Mutual Fund News : Nippon India Mutual Fund introduces Nippon India Fixed Horizon Fund-XLII-Series 5

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Nippon India Mutual Fund has launched a close ended fixed income scheme - Nippon India Fixed Horizon Fund-XLII-Series 5.

The investment objective of the scheme is to generate returns and growth of capital by investing in a diversified portfolio of the Central and State Government securities and other fixed income/debt securities maturing on or before the date of maturity of the scheme with the objective of limiting interest rate volatility. However, there can be no assurance or guarantee that the investment objective of the scheme will be achieved.

It is a Fixed Maturity Plan that will mature in 1136 days from the date of allotment.

The NFO opens for subscription on April 03, 2020 and closes on April 08, 2020.

The scheme’s performance will be benchmarked against Crisil Composite Bond Fund Index.

The fund will be managed by Mr. Amit Tripathi.

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 Direct Plan and Regular Plan having Growth Option and Dividend payout Option.