Mutual Fund news: Two recently launched new fund offers (NFOs) are closing today. Details hereMutual FundMutual Fund news: Two recently launched new fund offers (NFOs) are closing today. Details here

Mutual Fund news: Two recently launched new fund offers (NFOs) are closing today. Details here


To tap into the growing market, mutual fund (MF) houses are busy launching new schemes. At least six MF houses new fund offers (NFOs) will close this month. Navi S&P BSE Sensex Index Fund, Shriram Multi Asset Allocation Fund NFOs will close today, while Quant Teck Fund, Quant Teck Fund, WhiteOak Capital Multi Cap Fund, and DSP Multi Asset Allocation Fund NFOs will close later this month.

Navi S&P BSE Sensex Index Fund NFO closes today

Navi Mutual Fund has launched Navi S&P BSE Sensex Index Fund, an open-ended fund that will replicate and track the S&P BSE Sensex Index. The scheme aims to generate returns that are commensurate with the performance of the S&P BSE Sensex Index and will ensure that investors’ money is always invested in the 30 leading Indian companies. The new fund offer or NFO of the scheme is open for subscription and it will close on September 1.

The performance of the Scheme will be benchmarked with the S&P BSE SENSEX Index (Total Returns Index). The scheme will be managed by Aditya Mulki and Ashutosh Shirwaikar. The minimum subscription amount is 10 plus in multiples of Re 1 during the NFO. With a Total Expense Ratio (TER) of 0.14% (direct plan), the Navi S&P BSE Sensex Index Fund will have the lowest cost across all Sensex index funds and active large funds, the fund house said.

The average TER of other Sensex index funds is 0.22% while that of active large-cap funds is 0.9975% (Source: AMFI TER data, August 1, 2023).

Shriram Multi Asset Allocation Fund NFO closes today

Shriram Mutual Fund has launched the Shriram Multi Asset Allocation Fund, an open-ended scheme investing in equity, debt & money market securities, and gold/silver ETFs and related instruments.

The new fund offer or NFO of the scheme will close on September 1. The minimum application amount required is 5,000 and in multiples of Re 1 thereafter. The scheme will be managed by Deepak Ramaraju, and Gargi Bhattacharyya Banerjee. The investment objective of the scheme is to generate long-term capital appreciation with inflation-beating returns by investing in Equity and Equity related securities.

Navi S&P BSE Sensex Index Fund

Fund Type Open-Ended

Fund Class Other Scheme – Index Funds

Opens on 21-Aug-23

Closes on 01-Sep-23

Investment Objective To generate returns that are commensurate with the performance of the S&P BSE SENSEX Index, subject to tracking errors.

There is no assurance that the investment objective of the Scheme will be achieved.

Min. Investment 10

Fund Manager Mr. Aditya Mulki & Mr. Ashutosh Shirwaikar

Shriram Multi Asset Allocation Fund

Fund Type Open-Ended

Fund Class Hybrid Scheme – Multi Asset Allocation

Opens on 18-Aug-23

Closes on 01-Sep-23

Investment Objective To generate long-term capital appreciation with inflation-beating returns by investing in Equity and Equity Securities

Debt and Money Market instruments, Gold/Silver ETFs, and REITs / InvITs. There is no assurance that the investment objective of the Scheme will be achieved.

Minimum Investment 5000 and in multiples of Re 1/- thereafter

Fund Manager Mr. Deepak Ramaraju & Ms. Gargi Bhattacharyya Banerje

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Updated: 01 Sep 2023, 08:21 AM IST

Disclaimer: Along with publishing our own news, we get news from various sources namely from news wires ANI, PTI, other reputed finance portals and individual journalists. We are not legally liable for any inaccuracies in the news and expect the reader to do their own due diligence.

http://ganesh@finplay.in

Finance enthusiast, Mutual fund expert.




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