Mutual Fund NFOs: Nippon India comes up with 2 new NFOs; starting investment Rs 1000; know more details

Nippon India Mutual Fund NFOs: Nippon India, one of the most established fund houses in India, launched two new funds on Monday (February 5, 2024)- Nippon India Nifty Bank Index Fund, Nippon India Nifty IT Index Fund.

The subscription for the new mutual funds opened on Monday and will be available till February 16.

The minimum investment for these opened ended schemes is Rs 1,000.

Know more details about mutual funds.

Nippon India Mutual Fund on Monday (February 5, 2024) launched and opened subscription for two of its mutual funds- Nippon India Nifty Bank Index Fund, Nippon India Nifty IT Index Fund.

Investors can apply for these schemes till February 16, 2024.

Both are open ended schemes. In this, investors can make redemption whenever they want.

According to the asset management company, this can be an effective option for long-term capital growth.

NFO: You can start investing from Rs 1,000

According to the mutual fund house, investors can invest a minimum of Rs 1,000 and then in multiples of Re 1 in Nippon India Nifty Bank Index Fund.

In this, investors will be able to invest in equity and equity-related securities in the composition of Nifty Bank Index.

Its benchmark is NIFTY Bank TRI.

According to the fund house, investors can invest a minimum of Rs 1,000 and thereafter in multiples of Re 1 in Nippon India Nifty IT Index Fund. In this, investors will get the option to invest in equity and equity-related securities in the composition of Nifty IT Index. Its benchmark is NIFTY IT TRI.

NFO: Who can invest?

Mutual fund houses say that this can be a good investment option for long-term capital growth.

In this, investors will get an opportunity to invest in equity and equity-related securities.

Also, both the schemes can be helpful in preparing a portfolio in the composition of Nifty Bank and Nifty IT Index.

(Disclaimer: NFO details are given here. These are not investment advice. Investing in mutual funds is subject to market risks. Consult your advisor before investing.)