New Fund Offers: Amidst the ongoing boom in the stock market, the trend of investors is also increasing, due to which activities are going on in the mutual fund segment also….
There is a good news for mutual fund investors. Many new fund offers are going to be launched in the coming days. Asset management company Motilal Oswal Mutual Fund alone is going to launch 5 new funds.
Motilal Oswal filed paper
Motilal Oswal Mutual Fund has filed papers with market regulator SEBI for 5 new funds. The new funds that the company is going to launch include Nifty Midsmall Financial Services Index Fund, Nifty Midsmall Healthcare Index Fund, Nifty Midsmall IT & Telecom Index Fund, Nifty Midsmall India Consumption Index Fund and Quant Fund.
Details of the five new funds
According to the paper, Nifty Midsmall Financial Services Index Fund will be an open-ended fund, which will replicate the Nifty Midsmall Financial Services Total Return Index. It will be managed by Swapnil Mayekar and Rakesh Shetty. This scheme will offer regular and direct plans with growth options. Swapnil Mayekar and Rakesh Shetty will also manage the Nifty Midsmall Healthcare Index Fund. This will be benchmarked against the Nifty Midsmall Healthcare Total Return Index.
Similarly, Nifty Midsmall IT & Telecom Index Fund, Nifty Midsmall India Consumption Index Fund and Quant Fund will be benchmarked against Nifty Midsmall IT & Telecom Total Return Index, Nifty Midsmall India Consumption Total Return Index and Nifty 500 Total Return Index respectively.
You can invest in this way
The minimum application amount for these mutual fund schemes of Motilal Oswal will be Rs 500. After that the investment can be increased in multiples of one rupee. The minimum amount for monthly SIP in these schemes will also be Rs 500, which can be increased in multiples of Re 1. There will be a condition of minimum 12 installments under SIP.
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