1 day ago
Four new mutual fund schemes have opened for subscription today, offering investors fresh opportunities to diversify their portfolios. These New Fund Offers (NFOs) come from Kotak Mahindra Mutual Fund, Quantum Mutual Fund, and Tata Mutual Fund.
Below are the details of these NFOs:
The Kotak Nifty 100 Equal Weight Index Fund opened its subscription window today and will remain open until December 16, 2024. This is an open-ended index fund aiming to provide returns that correspond to the tota
l returns of the Nifty 100 Equal Weight Index, subject to tracking errors. The fund is ideal for investors seeking long-term capital growth. The minimum subscription amount is ₹100, with further investments in multiples of ₹1. The scheme will reopen on or before December 30, 2024.
Also opening today is the Kotak Nifty 50 Equal Weight Index Fund,
which follows the same structure and objectives as the Nifty 100 Equal Weight Index Fund.
The fund aims to match the returns of the Nifty 50 Equal Weight Index and is suited for long-term capital growth investors. Like the Nifty 100 fund, the minimum subscription amount is ₹100, and the scheme is scheduled to reopen on or before December 30, 2024.
Tata Fixed Maturity Plan Series 61 Scheme D (91 Days) is a close-ended debt scheme that opens for subscription today and closes on December 4, 2024. The scheme, which has a tenure of 91 days, seeks to generate income or capital appreciation by investing in fixed-income instruments aligned with its maturity period. The minimum investment amount is ₹5,000, with further investments in multiples of ₹1.
The scheme tracks the CRISIL Liquid Debt A-I Index, and there are no entry or exit loads. Units of the scheme will be listed on the Bombay Stock Exchange (BSE) and other recognized stock exchanges.
Lastly, the Quantum Ethical Fund, an open-ended equity scheme with an ethical investment theme, also opens for subscription today and will remain open until December 16, 2024. The scheme seeks long-term capital appreciation by investing in equity and equity-related instruments of companies that follow ethical business principles.
The benchmark index for the fund is the Nifty 500 Shariah Total Return Index (TRI). The minimum subscription amount for this scheme is ₹500, and further investments can be made in multiples of ₹1. The scheme imposes no exit load if up to 10% of units are redeemed or switched out within 365 days. After this period, no exit load will apply.
