Seven mutual fund NFOs or new fund offers will open for subscription this week.
While Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF, and Kotak Technology Fund have already kicked off, Union Business Cycle Fund, Edelweiss Technology Fund, Baroda BNP Paribas Innovation Fund, Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF FoF, and Canara Robeco Manufacturing Fund will open for subscription later this week.
Here are key details:
Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF
Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF is an open-ended scheme replicating/tracking Nifty Smallcap 250 Momentum Quality 100 Total Return Index. The NFO of the scheme is open for subscription and it will close on February 21. The performance of the scheme will be benchmarked against Nifty Smallcap 250 Momentum Quality 100 TRI (Total Return Index). The investment objective is to generate returns, before expenses, that are commensurate with the performance of the Nifty Smallcap 250 Momentum Quality 100 Total Return Index, subject to tracking error. The scheme will be managed by Ekta Gala and Vishal Singh.
The minimum application amount is Rs 5,000 per application and in multiples of Re 1 thereafter. Units will be allotted in whole figures and the balance amount will be refunded.
The scheme will allocate 95-100% in securities included in the Nifty Smallcap 250 Momentum Quality 100 Index, and 0-5% in money market instruments/debt securities, instruments and/or units of debt/liquid schemes of domestic mutual funds.
Kotak Technology Fund
Kotak Technology Fund is an open-ended equity scheme investing in technology and technology related sectors. The new fund offer is open for subscription and it will close on February 26.
The investment objective of the scheme is to generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity-related securities of technology and technology-related sectors.
The scheme will be benchmarked against the S&P BSE Teck Index (Total Return Index). The scheme will be managed by Shibani Sircar Kurian, Abhishek Bisen, and Arjun Khanna. The minimum application amount for lumpsum and SIP investment is Rs 100 and any amount thereafter.
The scheme will allocate 80-100% in equity and equity-related securities of technology and technology-related sectors, 0-20% in equity and equity-related securities other than technology and technology-related sectors, 0-20% in debt and money market securities, 0-10% in units of REITs and InvITs.
Union Business Cycle Fund
Union Business Cycle Fund is an open-ended equity scheme following a business cycles-based investing theme. The new fund offer of the scheme will open for subscription on February 13 and close on February 27.
The scheme will be benchmarked against the Nifty 500 Index (TRI). it will be managed by Hardick Bora, Sanjay Bembalkar.
The investment objective of the scheme is to generate long-term capital appreciation by investing with a focus on riding business cycles through allocation between sectors and stocks at different stages of business cycles in the economy.
The minimum application amount for lumpsum and monthly SIP is Rs 1,000 and in multiples of Re 1 thereafter.
Edelweiss Technology Fund
Edelweiss Technology Fund is an open-ended equity scheme investing in technology and technology-related companies. The new fund offer of the scheme will open for subscription on February 14 and close on February 28.
The investment objective of the scheme is to provide long-term capital appreciation by investing predominantly in equity and equity-related securities of technology and technology-related companies.
The scheme will be benchmarked against S&P BSE TECk TRI. The scheme will be managed by Trideep Bhattacharya, Sahil Shah, and Amit Vora.
The minimum application amount for lumpsum and SIP is Rs 100 and multiples of Re 1 thereafter.
Baroda BNP Paribas Innovation Fund
Baroda BNP Paribas Innovation Fund is an open-ended equity scheme investing in innovation themes. The new fund offer of the scheme will open for subscription on February 14 and it will close on February 28.
The investment objective of the scheme is to seek long-term capital appreciation by investing at least 80% of its net assets in equity/equity-related instruments of companies focusing on and benefitting from innovation.
The scheme will be benchmarked against Nifty 500 TRI. The minimum application amount is Rs Rs 1,000 and in multiples of Rs 1 thereafter. The scheme will be managed by Pratish Krishnan and Miten Vora.
The scheme is suitable for investors who are seeking long-term capital appreciation and want investment in equity and equity-related securities of the companies that benefit from the innovation theme.
Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF FoF
Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF FoF is an open-ended fund fund scheme investing in units of Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF. The new fund offer of the scheme will open for subscription on February 15 and close on February 28.
The investment objective of the scheme is to provide long-term capital appreciation from a portfolio investing in units of Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF.
The scheme will be benchmarked against Nifty Smallcap 250 Momentum Quality 100 TRI (Total Return Index). The scheme will be managed by Ekta Gala and Vishal Singh.
The scheme will allocate 95-100% in units of Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETF, and 0-5% in money market instruments/debt securities, instruments and/or units of debt/liquid schemes of domestic mutual funds.
Canara Robeco Manufacturing Fund
Canara Robeco Manufacturing Fund is an open-ended equity scheme following a manufacturing theme. The new fund offer of the scheme will open for subscription on February 16 and close on March 1.
The investment objective of the scheme is to generate long-term capital appreciation by investing predominantly in equities and equity-related instruments of companies engaged in the manufacturing theme.
The scheme will be benchmarked against S&P BSE India Manufacturing TRI. The scheme will be managed by Pranav Gokhale and Shridatta Bhandwaldar.
The minimum application amount is Rs 5,000 and multiples of Re 1 thereafter. The minimum application amount for monthly SIP is Rs 1,000 and in multiples of Re 1 thereafter.
