DSP Mutual Fund is launching NFO under its “ETF category”, named as DSP Nifty IT ETF. This open-ended exchange traded fund seeks to provide returns that, before expenses, correspond to the total return of the underlying index (Nifty IT TRI).
Investment strategy: The Scheme will track its Underlying Index and will use a “passive” or indexing approach to endeavor to achieve scheme’s investment objective. The scheme will neither try to beat the index it tracks nor take active approach in times when markets seem to be over/under valued.
Asset allocation: The Scheme would invest in equity Equity Related Securities of companies constituting Nifty IT Index and cash & cash equivalent.
Who should invest?
Investors with very high risk appetite and want to invest for 5 to 7 years in a mutual fund should invest in DSP Nifty IT ETF.
Risk associated: Very high level of risk.
Benchmark: Nifty IT Index.
Fund Managers: Mr Anil Ghelani and Mr Diipesh Shah.
The NFO is available for subscription from June 21 to July 3. The schemes will reopen for continuous sale and repurchase within five Business Days from the date of allotment. The fund offers systematic investment solutions like SIP and SWP to create a flexible investment plan. The minimum subscription amount is Rs 5000/- and in multiples of any amount thereafter.
It offers Regular Plan and Direct Plan. Each plan offers Growth and Income options. Click here to invest in DSP Nifty IT ETF.
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