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Nippon India Mutual Fund has launched two new index funds: Nippon India Nifty Bank Index Fund and Nippon India Nifty IT Index Fund. Both funds aim to offer investment returns in line with their respective benchmark indices – the Nifty Bank Index and Nifty IT Index – before expenses. This means the funds will passively track the composition of these indices, providing diversified exposure to the banking and IT sectors respectively.
Both funds are open-ended with no entry or exit loads and require a minimum investment of Rs. 1,000. The New Fund Offer (NFO) for both funds is open from February 5th to February 16th, 2024. Remember, investing in any mutual fund involves market risk, and past performance is not indicative of future results.
Investment objective
| Nippon India Nifty Bank Index Fund | The investment objective of the scheme is to provide investment returns that are commensurate to the total returns of the securities as represented by the Nifty Bank Index before expenses, subject to tracking errors. |
| Nippon India Nifty IT Index Fund | The investment objective of the scheme is to provide investment returns that commensurate to the total returns of the securities as represented by the Nifty IT Index before expenses, subject to tracking errors. |
Funds Allocation
Nippon India Nifty Bank Index Fund
| Asset Class | Minimum (%) | Maximum (%) | Risk Profile |
| Securities constituting Nifty Bank Index | 95 | 100 | Very High |
| Cash & cash equivalents and Money Market instruments, Reverse repo and/or Tri-Party Repo on Government securities or Treasury bills and/or units of money market / liquid schemes | 0 | 5 | Low to Medium |
Nippon India Nifty IT Index Fund
| Asset Class | Minimum (%) | Maximum (%) | Risk Profile |
| Securities constituting Nifty IT Index | 95 | 100 | Very High |
| Cash & cash equivalents and Money Market instruments, Reverse repo and/or Tri-Party Repo on Government securities or Treasury bills and/or units of money market / liquid schemes | 0 | 5 | Low to Medium |
Cash Equivalents include Government Securities, T-Bills and Repo on Government Securities having residual maturity of less than 91 days. The Scheme may invest up to 5% of net assets in money market/liquid schemes without charging any fees.
Benchmark
Nippon India Nifty Bank Index Fund – Nifty Bank TRI
Considering the investment in the scheme is made to achieve a return commensurate with the performance of the Nifty Bank Index, the mutual fund house proposes to have Nifty Bank TRI as the benchmark. Total Return variant of the index (TRI) will be used for performance comparison.
Nippon India Nifty IT Index Fund – Nifty IT TRI
Considering the investment in the scheme is made to achieve a return commensurate with the performance of the Nifty IT Index, mutual fund house proposes to have Nifty IT TRI as the benchmark. Total Return variant of the index (TRI) will be used for performance comparison.
Fund managers
Himanshu Mange: Fund Manager & Dealer – ETF ( Managing the Scheme – Since Launch of the scheme), Age: 30 years, Educational Qualification: Chartered Accountant and over 4 years of experience
Peer Schemes
Nippon India Nifty Bank Index Fund
| Particulars | Motilal Oswal Nifty Bank Index Dir | Navi Nifty Bank Index Dir | Nippon India ETF Nifty Bank BeES | Kotak Nifty Bank ETF | SBI Nifty Bank ETF |
| Net Asset (Rs Cr) | 514 | 471 | 6,248 | 4,723 | 4,663 |
| Return Since Launch | 11.95 | 8.05 | 16.37 | 10.45 | 10.97 |
| Risk-o-meter | Very High | Very High | Very High | Very High | Very High |
| Exit Load (Days) | 1.00 (15) | — | — | — | — |
| Expense Ratio (%) | 0.33 | 0.1 | 0.19 | 0.16 | 0.2 |
| Fund Age | 4Y 5M | 2Y | 19Y 8M | 9Y 2M | 8Y 10M |
| Portfolio Turnover (%) | 22 | 19 | 31 | 28.47 | 23 |
| Returns | Motilal Oswal Nifty Bank Index | Navi Nifty Bank Index | Nippon India ETF Nifty Bank BeES | Kotak Nifty Bank ETF | SBI Nifty Bank ETF |
| YTD | -6.81 | -6.82 | -6.81 | -6.81 | -6.81 |
| 1 Day | -1.76 | -1.77 | -1.76 | -1.76 | -1.76 |
| 1 Week | -2.55 | -2.56 | -2.55 | -2.55 | -2.55 |
| 1 Month | -5.15 | -5.16 | -5.15 | -5.15 | -5.15 |
| 3 Months | 3.03 | 3.05 | 3.06 | 3.06 | 3.06 |
| 6 Months | 0.2 | 0.21 | 0.27 | 0.26 | 0.26 |
| 1 Year | 8.97 | 8.81 | 9.13 | 9.05 | 9.11 |
| 2 Years | 9.42 | 9.26 | 9.49 | 9.41 | 9.48 |
| 3 Years | 8.14 | — | 8.26 | 8.19 | 8.26 |
| 5 Years | — | — | 10.55 | 10.49 | 10.57 |
| 7 Years | — | — | 12.22 | 12.17 | 12.23 |
| 10 Years | — | — | 16.18 | — | — |
Nippon India Nifty IT Index Fund
| Particulars | ICICI Pru Nifty IT Index | Nippon India ETF Nifty IT | ICICI Pru Nifty IT ETF | ICICI Pru Technology | Tata Digital Ind Reg |
| Net Asset(Rs Cr) | 344 | 1,972 | 431 | 11,874 | 9,272 |
| Return Since Launch (%) | 17.88 | 31.17 | 25.31 | 12.87 | 19.97 |
| Riskometer | Very High | Very High | Very High | Very High | Very High |
| Exit Load (Days) | — | — | — | 1.00 (15) | 0.25 (30) |
| Expense Ratio (%) | 0.95 | 0.22 | 0.2 | 1.74 | 1.69 |
| Fund Age | 1Y 5M | 3Y 7M | 3Y 5M | 23Y 11M | 8Y 1M |
| Portfolio Turnover (%) | 30 | 45 | 50 | 61 | 25.5 |
| Returns | ICICI Pru Nifty IT Index | Nippon India ETF Nifty IT | ICICI Pru Nifty IT ETF | ICICI Pru Technology | Tata Digital Ind Reg |
| YTD | 6.77 | 6.87 | 6.87 | 6.72 | 6.22 |
| 1 Day | 0.22 | 0.22 | 0.22 | -0.79 | -0.95 |
| 1 Week | 3.59 | 3.61 | 3.61 | 2.19 | 2.34 |
| 1 Month | 9.89 | 9.97 | 9.97 | 7.65 | 7.39 |
| 3 Months | 22.45 | 22.71 | 22.74 | 20.27 | 21.24 |
| 6 Months | 23.3 | 23.82 | 23.85 | 23.64 | 24.62 |
| 1 Year | 24.17 | 25.1 | 25.11 | 30.52 | 33.8 |
| 2 Years | — | 6.56 | 6.61 | 7.69 | 9.08 |
| 3 Years | — | 15.36 | 15.35 | 20.35 | 21.22 |
| 5 Years | — | — | — | 23.86 | 23.17 |
| 7 Years | — | — | — | 24.8 | 25.25 |
| 10 Years | — | — | — | 19.15 | — |
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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.
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