CALCULATE YOUR SIP RETURNS

Nippon India Mutual Fund To Launch Nippon India Nifty Auto Index Fund

11 November 20244 mins read by Angel One
Nippon India Nifty Auto Index Fund NFO opens Nov 14-28, 2024, offering auto-sector exposure with Rs.1,000 minimum investment, managed by Himanshu Mange.
Nippon India Mutual Fund To Launch Nippon India Nifty Auto Index Fund
ShareShare on 1Share on 2Share on 3Share on 4Share on 5

Nippon India Mutual Fund has announced the launch of the Nippon India Nifty Auto Index Fund- a sector-specific, open-ended index fund designed to replicate the performance of the Nifty Auto Index. Whether you’re into long-term equity investments or just looking to park some money in a growing sector, this fund might be of interest.

What’s the Deal?

The Nippon India Nifty Auto Index Fund NFO offers investors a chance to enter into the thriving auto sector. With subscriptions opening from November 14 to November 28, 2024, the fund provides an entry with a minimum investment of just Rs.1,000. Post the NFO, continuous sales and repurchases will be available starting December 10, 2024, with redemptions allowed for as low as Rs.100 or your account balance.

Metrics Details
Opens for Subscription November 14, 2024
Closes November 28, 2024
Reopens for Sale/Repurchase December 10, 2024
Minimum Investment Rs.1,000 (multiples of Re.1)
Minimum Redemption Rs.100 or account balance

Why the Nifty Auto Index?

The Nifty Auto Index isn’t just any benchmark, it’s a curated list of leading automobile companies listed on the stock exchanges. From traditional carmakers to the growing EV space, this index captures the essence of India’s vast auto sector.

The fund will be managed by Himanshu Mange, making sure that the portfolio stays aligned with its objective while keeping tracking errors in check.

Who Should Invest?

The Nippon India Nifty Auto Index Fund aims to deliver returns that match the total returns of the Nifty Auto Index, minus expenses and tracking errors. Think of it as a way to mirror the performance of some of India’s top auto players, all bundled into one fund. This fund is suitable for:

  • Investors with a long-term horizon
  • Those who want a focused investment in the auto sector
  • Individuals comfortable with equity market risks

Conclusion: With an accessible entry point of just Rs.1,000, the Nippon India Nifty Auto Index Fund could be a great way to build up your portfolio. But remember, equity investments come with risks, so take everything into consideration and invest wisely!

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

We're Live on WhatsApp! Join our channel for market insights & updates

Grow Wealth, Start SIP Now!

Start Your Mutual Fund Investments Journey Today

Join our 2 Cr+ happy customers

+91
Enjoy Zero Brokerage on Equity Delivery
4.4 Cr+DOWNLOADS
Enjoy ₹0 Account Opening Charges

Get the link to download the App

Send App Link
Get it on Google PlayDownload on the App Store
Open Free Demat Account!
Enjoy ₹0 Account Opening Charges