Tue, Jul 09, 2024
NFO offer: Tata Nifty India Tourism Index Fund is open from July 8 to July 29. The minimum application amount during NFO for the fund is Rs 5,000 and in multiple of Rs 1 thereafter.
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Wed, Jul 19, 2023
NFO: When a mutual fund scheme is made available for investment for the first time, it is called 'New Fund Offer' (NFO). The objective of an NFO is to raise sufficient initial funds so that the fund manager of that mutual fund scheme can build a portfolio based on the investment objectives of the scheme. Thus, there are SEBI regulations on how much the proposed new fund has to deposit during the NFO. As per the rules, the minimum subscription amount of debt-oriented and balanced hybrid schemes at the time of NFO should be at least Rs.20 crores and for other schemes at least Rs. 100 million.
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