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.
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 |
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.
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:
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.
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