Mutual Fund News : Nippon India Mutual Fund files offer document for Nippon India Freedom FOF

Publish Date:

Nippon India Mutual Fund has filed offer document with SEBI to launch an open ended fund named 'Nippon India Freedom FOF'.

The investment objective of the scheme to seek long term capital growth by investing in units of equity oriented and debt oriented schemes of Nippon India Mutual Fund as per the asset allocation defined under each of the five different schemes.

The performance of the scheme will be benchmarked as follows…

10's -90% of S&P BSE Midcap+10% of CRISIL Dynamic Debt Index;

20's- 80% of S&P BSE Midcap+20% of CRISIL Dynamic Debt Index,

30's- 70% of S&P BSE 500+30% of CRISIL Dynamic Debt Index,

40's- 60% of Nifty LargeMidCap 250+40% of CRISIL Dynamic Debt Index, and

50's- Plus 30% of S&P BSE 100+70% of CRISIL Dynamic Debt Index.

The New Fund Offer price is Rs 10 per unit and the minimum application amount for initial purchase is Rs 5,000 and in multiples of Re 1 thereafter. The scheme offers growth and dividend options.

It seeks to collect a Minimum Target Amount of Rs 10 crore.