Publish Date:
TATA Mutual Fund has Introduced a new scheme – Tata Nifty Midcap 150 Momentum 50 Index Fund
It is an open-ended scheme replicating/tracking NIFTY Midcap 150 Momentum 50 Index.
Accordingly, the investment objective of the scheme is to provide returns, before expenses, that commensurate with the performance of NIFTY Midcap 150 Momentum 50 Index (TRI), subject to tracking error. There is no assurance or guarantee that the investment objective of the scheme will be achieved. The scheme does not assure or guarantee any returns.
Under normal circumstances, Tata Nifty Midcap 150 Momentum 50 Index Fund will hold an allocation of 95% to 100% of its assets in Securities covered by NIFTY Midcap 150 Momentum 50 Index and 0% to 5% in Debt & Money Market Instruments.
As per the Scheme Information Document, Tata Nifty Midcap 150 Momentum 50 Index Fund is a passively managed Index Fund which will employ an investment approach of the scheme is to provide returns, before expenses, that commensurate with the performance of NIFTY Midcap 150 Momentum 50 Index (TRI), subject to tracking error.
The Scheme seeks to achieve the investment objective by investing in securities constituting the NIFTY Midcap 150 Momentum 50 Index in same proportion as in the Index.The Scheme may also invest in money market instruments to meet the liquidity and expense requirements. The fund is ideal for those investors who would like to invest in passively managed fund investing in a diversified portfolio of well-known companies as represented by NIFTY Midcap 150 Momentum 50 Index.
Tata Nifty Midcap 150 Momentum 50 Index Fund’s performance will be benchmarked against NIFTY Midcap 150 Momentum 50 Index (TRI).
The scheme will be managed by Mr Shailesh Jain
The NFO opens for subscription on October 04, 2022 and closes on October 17, 2022. The schemes will reopen for continuous sale and repurchase on October 31, 2022.
The fund’s NAV is priced at Rs 10/- per unit during the NFO period. The minimum subscription amount is Rs 5,000/- and in multiples of any amount thereafter.
The scheme offer Regular Plan and Direct Plan each plan offers Growth and Income Distribution cum capital withdrawal option (IDCW) option.
[Read: Is Tata Nifty Midcap 150 Momentum 50 Index Fund a Worthwhile Portfolio Diversifier?]