Nippon India Nifty Midcap 150 Index Fund
Nippon India has launched the Index Fund on 4th February 2021. The name of the NFO is Nippon India Nifty Midcap 150 Index Fund. It is an open-ended equity scheme. The scheme will be replicating/tracking Nifty Midcap 150 Indices.
It is available in direct and regular plans along with growth and dividend options. Nippon India’s NFO is suitable for investors who seek long term capital growth.
As per the SID, the scheme will re-open on 26th February 2021 for the repurchase of units. Moreover, the offer of units of Rs. 10/- each during the NFO and the repurchase offer for units at Net Asset Value-based prices.
Basic Details of NFO:
|NFO Name||Nippon India Nifty Midcap 150 Index Fund|
|NFO Type||Open-Ended Equity scheme|
|Subscription Period||Feb 4th, 2021- Feb 12th, 2021|
|Benchmark||Nifty Midcap 150 TRI|
|Fund Manager||Mr. Mehul Dama|
The investment of object:
Besides, the main object of the scheme is to provide investment returns closely corresponding to the total returns of the securities as represented by the Nifty Midcap 150 Index before expenses.
The investors who want to invest in this scheme could purchase initially about Rs. 5,000/- and in multiples of Re. 1 for purchases.
For an additional purchase, investors may invest a minimum of Rs. 1,000 and in multiples of Re. 1 following.
Moreover, the entry load and exit load charges not applicable for this scheme.
|Instruments||Indicative Asset Allocation (% of total assets)||Risk Profile|
|Securities constituting Nifty Midcap 150 Index||95%||100%||Medium to High|
|Money Market Instruments, Reverse repo and/or Tri-Party Repo and/or Schemes which invest predominantly in the money market securities or Liquid schemes.||0%||5%||Low to Medium|
Besides, the scheme will manage by Mr. Mehul Dama.
As per the reports, the fund remains a passively managed index fund. It will employ an investment approach composed to follow the performance of Nifty Midcap 150 TRI.
Disclaimer: This post is just information about the scheme. It does not give any advice or recommendation. Please read the offer document carefully and consult your investment adviser before investing.