Four new fund offers (NFOs) have opened for subscription on Wednesday, January 17. These include Groww Banking & Financial Services Fund, Motilal Oswal Large Cap Fund, Old Bridge Focused Equity Fund and UTI Nifty IT ETF. All the NFOs are open-ended in nature.
Here are the details of all the four NFOs:
Groww Banking & Financial Services Fund
An offering from Groww Mutual Fund, this is an equity scheme investing in banking and financial services-related sectors.
The primary investment objective of the scheme is to generate consistent long-term returns by investing in equity and equity-related instruments of banking and financial services companies and other related sectors or companies. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved, the fund house said.
The performance of Groww Banking and Financial Services Fund is benchmarked against the Nifty Financial Services (Total Return Index).
There are no entry and exit loads attached to the
NFO.The minimum subscription amount allowed is ₹500.
The scheme is open till January 31, 2024.
Motilal Oswal Large Cap Fund
An offering from Motilal Oswal Asset Management Company (MOAMC), this equity scheme is strategically designed to provide investors with a unique opportunity to tap into the potential of the large-cap segment.
The investment objective is to achieve long-term capital appreciation by predominantly investing in equity and equity-related instruments of large-cap companies.
However, there can be no assurance that the investment objective of the scheme will be realised, the fund house said.
The fund aims to maintain a strategically balanced portfolio with exposure of a minimum of 80% in the Nifty 100 large-cap stocks, complemented by a thoughtful 20% allocation in small-cap/Mid/IPO/Pre-IPO/Foreign Equity.
The product is designed for investors looking for long-term capital growth. It is ideal for investors wanting to invest in equity and equity-related instruments of large-cap stocks. The fund's performance will be benchmarked against Nifty 100 TRI, Motilal Oswal AMC said.
The
NFO is available till January 31, 2024.
Old Bridge Focused Equity Fund
This approach involves up to 30 companies across various market capitalisations, including mid-cap, small-cap, and large-cap segments. It is important to note that while the scheme has outlined its objectives, there is no assurance or guarantee of realising these goals, the fund house said.
To gauge the fund's performance, it will be benchmarked against the S&P BSE 500 TRI.
There is no entry load for investors. However, an exit load is applicable, with a rate of 1% if redeemed or switched out within 365 days from the date of allotment.
The NFO is available till January 19, 2024.
UTI Nifty IT ETF
An offering from UTI Mutual Fund, this is an open-ended scheme replicating/tracking Nifty IT TRI.
The investment objective of the scheme is to provide returns that, before
expenses, correspond to the total returns of the securities as represented
by the underlying index, subject to tracking error. However, there is no guarantee or assurance that the investment objective of the scheme will be achieved, the fund house said.
The minimum initial investment amount is ₹5,000 and in multiples of
₹1 thereafter. The subsequent minimum investment amount is ₹1,000
and in multiples of ₹1 thereafter.
There are no entry and exit loads attached to the scheme.
The NFO is available till January 22, 2024.
Investment considerations
Investing in
new fund offers (NFOs) requires careful consideration of the fund's objectives, market conditions, and individual financial goals. The four NFOs currently open for subscription offer diverse investment opportunities.
Consulting with a financial advisor can provide insights into whether these funds align with one's overall investment strategy. Additionally, staying informed about market trends and regularly reviewing the fund's performance after investment is crucial for making sound financial decisions, experts say.
