Ten new fund offers (NFOs) are currently open for subscription in the market. These are Bandhan Multi Asset Allocation Fund, Baroda BNP Paribas Nifty 50 Index Fund, DSP Multicap Fund, Kotak FMP Series 327, Mirae Asset Multi Asset Allocation Fund, quant Consumption Fund, Sundaram Multi Asset Allocation Fund, Tata Gold ETF Fund of Fund, Tata Silver ETF Fund of Fund and Zerodha Nifty 1D Rate Liquid ETF.
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An NFO is the first-time subscription offer for a new scheme launched by asset management companies (AMCs). They are intended to raise capital for the fund and attract investors.
Here's a look at the NFOs that are currently open:
Bandhan Multi Asset Allocation Fund
Bandhan Multi Asset Allocation Fund, an offering from Bandhan Mutual Fund, adopts a multi-asset allocation strategy. It is aimed at providing long-term capital appreciation by investing in instruments across multiple asset classes namely equity, debt and money market securities and gold/silver-related instruments.
The NFO is open till January 24.
Baroda BNP Paribas Nifty 50 Index Fund
The is an open-ended scheme that aims to provide investment returns closely corresponding to the total returns of the securities as represented by the Nifty 50 Total Returns Index before expenses, subject to tracking errors, fees and expenses.
However, there is no assurance that the objective of the scheme will be realized, and the scheme does not assure or guarantee any returns, Baroda BNP Paribas Mutual Fund said.
The NFO is available till January 22.
DSP Multicap Fund
DSP Multicap Fund, an open-ended scheme, offers investors the flexibility to invest across large cap, mid cap and small cap stocks, investment styles and industries.
The asset allocation of the scheme can be a minimum of 75% and a maximum of 100% in equity and equity related securities of which large, mid, and small caps can account for a minimum of 25% exposure and a maximum of 50%.
The scheme can also have up to 25% exposure to equity and equity related overseas securities and debt and money market instruments and up to 10% in units issued by REITs and InvITs.
The NFO is open till January 22.
Kotak FMP Series 327
This is a close-ended scheme that is aimed at generating income by investing in debt and money market securities, maturing on or before the maturity of the scheme. There is no assurance that the investment objective of the scheme will be achieved, the fund house said.
The NFO is available till January 10.
Mirae Asset Multi Asset Allocation Fund
An offering from Mirae Asset Mutual Fund, this NFO offers both regular and direct plans, each with distinct options: growth option and Income Distribution cum Capital Withdrawal (IDCW) option.
Under IDCW, investors can choose between payout and reinvestment sub-options.
The fund's benchmark index comprises 65% S&P BSE 200 TRI, 20% NIFTY Short Duration Debt Index, 10% domestic gold price, and 5% domestic silver price.
The NFO is available till January 24.
Quant Consumption Fund
The Quant Consumption Fund, categorised as an open-ended equity scheme - sectoral/thematic, primarily focuses on capital appreciation and long-term growth.
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Its investment strategy revolves around a portfolio of consumption-driven companies.
The NFO offers two plans: regular and direct, with options for growth and Income Distribution cum Capital Withdrawal (IDCW) under each plan.
This is available till January 18.
Sundaram Multi Asset Allocation Fund
The Sundaram Multi Asset Allocation Fund introduced as an open-ended Hybrid Scheme - Multi Asset Allocation, aims to generate long-term capital appreciation by employing a diversified investment strategy.
The fund's objective involves investing in a mix of equity and equity-related securities, debt and money market instruments, and Gold ETFs.
This is available till January 19.
Tata Gold ETF Fund of Fund
This is an open-ended fund of fund scheme investing in the Tata Gold Exchange Traded Fund.
The investment objective of the scheme is to provide returns that are in line with returns provided by the Tata Gold Exchange Traded Fund. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved, the fund house said.
The fund manager for this scheme is Tapan Patel and the benchmark is the domestic price of gold.
The NFO is available till January 16.
Tata Silver ETF Fund of Fund
This is an open-ended fund of fund investing in the Tata Silver Exchange Traded Fund.
The investment objective of the scheme is to seek to provide returns that are in line with returns provided by the Tata Silver Exchange Traded Fund. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved, the fund house said.
The NFO is available till January 16.
Zerodha Nifty 1D Rate Liquid ETF
The Zerodha Nifty 1D Rate Liquid ETF replicates the Nifty 1D Rate Index, which measures the returns generated by market participants lending in the overnight market.
This is India’s first Growth Liquid ETF and is available till January 12, 2024. The fund is expected to be listed on the NSE and BSE exchanges by January 24, 2024.
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