NFO alert: Bandhan Mutual Fund, ABSL AMC and Bank of India MF launch new fund offerings; check minimum investment & other details

Bandhan Mutual Fund, Aditya Birla Sun Life Asset Management (ABSL AMC) and Bank of India Mutual Fund have launched new fund offerings (NFOs). Let's know about the minimum investment, category, features and other key details of each fund.

Bandhan Mutual Fund

Bandhan Mutual Fund has launched the Bandhan Nifty Bank Index Fund. This is an open-ended scheme. 

Subscription date: The fund has started from August 8, 2024 and will end on August 22, 2024.

Minimum investment: The minimum lump-sum investment is Rs 1,000, with future payments in multiples of Re 1. SIPs need a minimum of Rs 100, with increments of Re 1 and a minimum of six installments.

Why to invest in this NFO?

Vishal Kapoor, CEO of Bandhan AMC, points out that as India’s economy grows, so does the demand for banking and financial services, creating a favorable environment for banks.

He notes that banks have significantly improved their financial health, transitioning from high non-performing assets (NPAs) and low profitability to stronger, well-capitalised institutions.

Aditya Birla Sun Life Asset Management Company (ABSL AMC)

ABSL AMC has launched Aditya Birla Sun Life Nifty India Defense Index Fund. This scheme belongs to equity thematic category.

Subscription date: The fund has started from August 9, 2024 and will end on August 23, 2024. 

Minimum investment: It is necessary to invest minimum Rs 500 in this scheme. There is no lock in period in this. If redemption is done before 30 days, then 0.05 per cent exit load will have to be paid. 

Bank of India 

Bank of India (BoI) has launched Bank of India Business Cycle Fund. This scheme belongs to equity thematic category.

Subscription date: The fund has started from August 9, 2024 and will end on August 23, 2024. 

Minimum investment: You can start investing in this scheme with a minimum of Rs 5,000. There is no lock in period in this. If more than 10 per,cent of the units are redeemed before 3 months, then one per cent exit load will have to be paid. 

How to participate in these NFOs: Investors can invest through online platforms, directly through fund’s website or via licensed mutual fund distributors also.