Nippon India Mutual Fund launches new fund which will invest in G-Secs, State Development Loans

Nippon India Nifty SDL Plus G-Sec – Jun 2029 Maturity 70:30 Index Fund is an addition to the passive product offering under the Fixed Income asset class, it said. The scheme will invest in State Development Loans (SDLs) and Government Securities (G-Secs), and has a maturity date of June 29, 2029. 

“A bond like structure with fixed maturity provides stable and visible returns at maturity. Fund will endeavour to buy & hold the underlying SDLs and G-Secs till maturity, subject to semi-annual index rebalancing. The investment objective of the scheme is to provide investment returns corresponding to the total returns of the securities as represented by the Nifty SDL Plus G-Sec Jun 2029 70:30 Index before expenses, subject to tracking errors,” the mutual fund house said.

Vivek Sharma & Siddharth Deb will be the fund managers of the newly launched fund. The new fund offer (FPO) opens on February 06, 2023 and will close on February 14, 2023.

Minimum amount of Rs.1000 and in multiples of Re.1 thereafter during NFO and minimum amount of ₹1000 and in multiples of Re 1 thereafter with additional amount of ₹1000 and in multiples of Re 1 thereafter during ongoing basis.