Mutual Fund News : Nippon Life India Mutual Fund files offer document for Nippon India CPSE ETF - FF06

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Nippon Life India Mutual Fund has filed offer document with SEBI to launch an open ended index exchange traded scheme. The scheme will be known as 'Nippon India CPSE ETF - FF06'.

The investment objective of the scheme is to provide returns that, before expenses, closely correspond to the total returns of the Securities as represented by the Nifty CPSE Index, by investing in the Securities which are constituents of the Nifty CPSE Index in the same proportion as in the Index.

The performance of the scheme will be benchmarked against Nifty CPSE TRI (Total Return Index).

The New Fund Offer is priced at 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 100 crore.