Nippon India Mutual Fund is launching NFO under its “sectoral fund category”, named as Nippon India Innovation Fund. This open-ended fund aims to generate long-term capital appreciation to investors by primarily investing in equity and equity related securities of companies seeking to benefit from innovation i.e., companies that invest in innovation, research and development, new product development or new platforms to enhance their business and gain share in their respective sectors.
Investment strategy: In order to identify and select companies that can form part of the scheme portfolio, the fund manager would classify a certain percentage of the entire investment coverage universe of stocks into buckets that are highly innovative and not so innovative. The fund manager will attempt to invest a large part of the scheme portfolio in highly innovative companies.
Asset allocation: The scheme will predominantly invest in equity and equity related securities of companies seeking to benefit from innovation i.e., companies that invest in innovation, research and development, new product development or new platforms to enhance their business.
Who should invest?
Investors with very high risk appetite and want to invest for 5 to 7 years in a innovative sector mutual fund should invest in Nippon India Innovation Fund.
Risk associated: Very high level of risk.
Benchmark: Nifty 500 TRI.
Fund Managers: Mr Vinay Sharma and Ms Kinjal Desai.
The NFO is available for subscription from August 9 to August 23. 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 500/- 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 Nippon India Innovation Fund.
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