Mutual Fund News : Nippon India Mutual Fund files offer document for Nippon India Multi Asset Fund

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Nippon India Mutual Fund has filed offer document with SEBI to launch an open ended scheme named ' Nippon India Multi Asset Fund '.

The investment objective of the scheme to seek long term capital growth by investing in equity and equity related securities, debt & money market instruments and Exchange Traded Commodity Derivatives and Gold and Gold ETF as permitted by SEBI from time to time.

The performance of the scheme will be benchmarked for 50% of NIFTY 500, 20% of Crisil Short Term Bond Fund Index & 30% of Thomson Reuters - MCX iCOMDEX Composite 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 20 crore.