1 week ago
Four new mutual fund schemes opened for subscription on Monday, November 11. This includes offerings from Samco Mutual Fund, Tata Mutual Fund and UTI Mutual Fund. Investors seeking new investment opportunities can check the details of these New Fund Offers (NFOs) before applying.
Here’s a look at some of the key details of these new funds:
Samco Arbitrage Fund
Samco Mutual Fund’s new fund offer (NFO), an open-ended hybrid scheme focussed on arbitrage, is ideal for investors in higher tax slabs as it is treated as an equity-oriented fund for taxation purposes.
The scheme has been benchmarked against NIFTY 50 Arbitrage TRI.
NFO period: November 11 to November 21, 2024.
Continuous sale/repurchase: Not later than December 3.
Objective: The objective of the hybrid scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunities in the cash and the derivative segments of the equity markets. The scheme will also invest in arbitrage opportunities available within the derivative segment and in the debt and money market instruments.
Minimum subscription amount: ₹5,000 and in multiples of ₹1 thereafter. The minimum additional purchase amount for the scheme is ₹500 and in multiples of ₹1 thereafter.
Exit load: 0.25% if the investment is redeemed or switched out on or before 7 days before the date of allotment of units, no load thereafter.
Tata India Innovation Fund
The Tata Innovation Fund is an open-ended equity scheme that follows innovation themes. It is ideal for investors who want long-term capital appreciation.
NFO period: November 11 to November 25, 2024
Continuous sale/repurchase: From December 5, 2024
Objective: The investment objective of the scheme is to provide investors with opportunities for long-term capital appreciation by investing in equity and equity-related instruments of companies that seek to benefit from the adoption of innovative strategies and themes.
Minimum subscription amount: ₹5,000 and in multiples of ₹1 thereafter. The minimum SIP amount is ₹100 and in multiples of ₹1 thereafter.
Exit load: 1% of the applicable NAV, if redeemed on or before 90 days
UTI Nifty Alpha Low-Volatility 30 Index Fund
The UTI Nifty Alpha Low-Volatility 30 Index Fund is an open-ended scheme replicating/ tracking Nifty Alpha Low-Volatility 30 TRI. It is ideal for investors who are seeking returns that are commensurate with the performance of the Nifty Alpha Low-Volatility 30 Index over the long term.
NFO period: November 11 to November 25, 2024
Continuous sale/repurchase: From December 3, 2024
Objective: The objective of this NFO is to provide returns that, before expenses, correspond to the total return of the securities as represented by the underlying index, subject to tracking error.
Minimum subscription amount: ₹1,000 and in multiples of ₹1 thereafter. Subsequent minimum investment amount under a folio ₹1,000 and in multiples of ₹1 thereafter with no upper limit.
Exit load: Nil
UTI Nifty Midcap 150 Index Fund
The UTI Nifty Midcap 150 Index Fund is an open-ended scheme replicating/ tracking Nifty Midcap 150 TRI. It is good for investors who want returns that are in line with the performance of the Nifty Midcap 150 Index over the long term.
NFO period: November 11 to November 25, 2024
Continuous sale/repurchase: From December 3, 2024
Objective: The objective of this NFO is to provide returns that, before expenses, correspond to the total return of the securities as represented by the underlying index, subject to tracking error.
Minimum subscription amount: ₹1,000 and in multiples of ₹1 thereafter. Subsequent minimum investment amount under a folio ₹1,000 and in multiples of ₹1 thereafter with no upper limit.
Exit load: Nil
