Mutual fund (MF) houses are hard at work introducing new plans in an effort to capitalize on the expanding market. This month, at least six MF houses will close their new fund offerings introduced new fund offerings (NFOs). introduced new fund offerings (NFOs) for Navi S&P BSE Sensex Index Fund, Shriram Multi Asset Allocation Fund, Quant Teck Fund, Quant Teck Fund, WhiteOak Capital Multi Cap Fund, and DSP Multi Asset Allocation Fund will close today.
Today’s Navi S&P BSE Sensex Index Fund NFO closes.
An open-ended vehicle called Navi S&P BSE Sensex Index vehicle has been established by Navi Mutual Fund to mimic and follow the S&P BSE Sensex Index. The scheme’s new fund offer, or NFO, is currently available for subscription and will end on September 1.
The S&P BSE SENSEX Index (Total Returns Index) shall be used as the benchmark for measuring the performance of the Scheme. Aditya Mulki and Ashutosh Shirwaikar will run the plan. During the NFO, the minimum subscription amount is 10 plus multiples of 1 Re. The Navi S&P BSE Sensex Index Fund would have the lowest cost among all Sensex index funds and active big funds, according to the fund house, with a Total Expense Ratio (TER) of 0.14% (direct plan).
Other Sensex index funds’ average TER is 0.22%, while active large-cap funds’ average TER is 0.9975% (Source: AMFI TER statistics, August 1, 2023).
Today’s deadline for the Shriram Multi Asset Allocation Fund NFO
The Shriram Multi Asset Allocation Fund, an open-ended plan that invests in equities, debt, and money market securities as well as gold/silver ETFs and similar instruments, was introduced by Shriram Mutual Fund.
The scheme’s new fund offer, or NFO, will expire on September 1. The needed minimum application amount is 5,000 and after that, in multiples of Re 1. Deepak Ramaraju and Gargi Bhattacharyya Banerjee will oversee the program. The scheme’s investment goal is to invest in equity and equity-related assets to produce long-term capital growth with returns that beat inflation.
Sensex Index Fund Navi S&P
Type of Fund Open-Ended
Other Scheme – Index Funds Fund Class
opens on August 21.
Closes on 01 September 23
Investment Purpose to produce returns that are comparable to the S&P BSE SENSEX Index’s performance, subject to tracking flaws.
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.
Minimum Investment ₹5000 and in multiples of Re 1/- thereafter
Fund Manager Mr. Deepak Ramaraju & Ms. Gargi Bhattacharyya Banerje
