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 papers
Motilal Oswal Mutual Fund has filed papers with market regulator SEBI for 5 new funds. Papers have been filed with. 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. It will be benchmarked against 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 respectively. It will be benchmarked against Midsmall India Consumption Total Return Index and Nifty 500 Total Return Index.
You can invest in this way
Application for these mutual fund schemes of Motilal Oswal is limited. The amount less than 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.
Disclaimer: The information provided here is being given for information only. It is important to mention here that investment in markets/mutual funds is subject to market risks. As an investor, always consult an expert before investing money. ABPLive.com never advises anyone to invest any money.
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