For the past two years, mutual fund companies have been diversifying their portfolios. Part of it is a strategy for increasing AUM, and part of it is a strategy for capitalising on emerging trends. These four mutual fund houses recently introduced 4 mutual funds in different categories for subscription. These 4 NFOs are open for subscription and will be closing next month within the first half of the month.
UTI Nifty Midcap 150 Quality 50 Index Fund - Direct-Growth
This NFO has been launched by the UTI Mutual Fund, an Asset management company. It was launched on 28th March 2022 and will close on 5th April 2022. From April 15, the plan will be open for subscription and redemption on a continuous basis. It is an open-ended equity scheme that tracks the Nifty Midcap 150 Quality 50 Total Return Index (TRI).
The minimum amount required to invest in this NFO is Rs 5000 and Rs 500 for SIP investment.
Sharwan Kumar Goyal, vice president, and fund manager in the domestic Equity Division of UTI AMC Ltd will be the fund manager for the scheme.
Tata Nifty India Digital ETF FoF Direct-Growth
It is an Open-Ended Exchange Traded Fund (ETF) tracking Nifty India Digital Index launched by the Tata Mutual Fund. The NFO opens on 25th March 2022 and closes on 8th April 2022. The allotment date of this fund 13th April 2022. Purchase, Additional Purchase, and Redemption of Units will be through the stock exchange.
To invest in this fund the minimum investment amount required is Rs 5000 and a minimum of Rs 500 for SIP.
Meeta Shetty is the fund manager. She has 15 years of industry experience.
The investment objective of the scheme is to provide returns that correspond to the total returns of the securities as represented by the Nifty India Digital Index, subject to tracking error.
The fund tracks Nifty India Digital Index which provides exposure to the growing Digital Space in India.
ICICI Prudential Housing Opportunities Fund Direct-Growth
On March 28th, ICICI Prudential launched this Housing Opportunities Fund scheme. This fund is open for subscriptions until April 11, 2022. The Nifty Housing Index, which was recently introduced by the NSE, will be the benchmark for the ICICI Prudential Housing Opportunities Fund.
The fund will invest not just in stocks of real estate firms that gain directly from the housing market's expansion, but also in equities of related industries. A theme fund, unlike a sectoral fund, invests in a diverse range of equities and industries.
The scheme is good for investors looking for long-term capital growth and an open-ended equity fund with a housing focus.
Invesco India-Invesco EQQQ NASDAQ-100 ETF FoF Direct-Growth
This mutual fund was launched by the Invesco Mutual Fund house. It is a new open-ended fund of fund (FoF) scheme. This fund invests in the Invesco EQQQ Nasdaq-100 UCITS ETF.
The Invesco EQQQ Nasdaq UCITS ETF fund, which tracks the Nasdaq 100 index, will get 95 percent of the fund's net assets. The NFO is currently up for the subscription and will conclude on April 13th.
The underlying fund is domiciled out of Ireland and has a track record of over 19 years. The fund has assets under management of over Rs. 45,873 crore (US$6.09 bn) as of 28 February 2022.
|NFOs||Opening Date||Closing Date||Allotment Date|
|UTI Nifty Midcap 150 Quality 50 Index Fund - Direct - Growth||28th March||5th April||11th April|
|Tata Nifty India Digital ETF FoF Direct - Growth||25th March||8th April||13th April|
|ICICI Prudential Housing Opportunities Fund Direct - Growth||28th March||11th April||18th April|
|Invesco India-Invesco EQQQ NASDAQ-100 ETF FoF Direct- Growth||30th March||13th April||21st April|
Mutual fund/NFO investments are subject to market risk. Read all scheme-related documents, and Terms and Conditions carefully before investing. The above-mentioned information is purely informational and doesn't guarantee any return. The Greynium Information Technologies and the Author are not liable for any losses caused as a result of a decision based on the article.