Nippon India Nifty Bank Index Fund NFO: Essential details you need to know

7 Feb 2024 , 10:44 AM

Nippon India Mutual Fund is launching NFO under its “index category”, named as Nippon India Nifty Bank Index Fund. The investment objective of the scheme is to provide investment returns that commensurate to the total returns of the securities as represented by the Nifty Bank Index before expenses, subject to tracking errors.

Investment strategy: Nippon India Nifty Bank Index Fund is a passively managed index fund which will employ an investment approach designed to track the performance of Nifty Bank TRI.

Asset allocation: The scheme aims to invest in equity and equity related securities and portfolio replicating the composition of the Nifty Bank Index.

Who should invest?

Investors with very high risk appetite and want to invest for 5 to 7 years to diversify their portfolio in bank and financial institution stocks should invest in Nippon India Nifty Bank Index Fund. 

Risk associated: Very high level of risk.

Benchmark: Nifty Bank Index.

Fund Managers: Mr. Himanshu Mange

The NFO is available for subscription from February 05 to February 16. 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 ₹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 Nippon India Nifty Bank Index Fund.