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New Fund Offer: 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 the nomination
Motilal Oswal Mutual Fund has filed papers with market regulator SEBI for 5 new funds. 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 and Telecom Index Fund, Nifty Midsmall India Consumption Index Fund and Quant Fund.
Details of five new funds
According to the paper, Nifty Midsmall Financial Services Index Fund will be an open-ended fund, which will track the Nifty Midsmall Financial Services Total Return Index. It will be directed by Swapnil Mayekar and Rakesh Shetty. The scheme will offer regular and straightforward plans with growth options. Swapnil Mayekar and Rakesh Shetty will also manage the Nifty Midsmall Healthcare Index Fund. It will be benchmarked against the 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 Midsmall India Consumption Total Return Index and Nifty 500 Return Index.
This is how you can invest
The minimum application amount for these mutual fund schemes of Motilal Oswal will be Rs 500. The investment can then be increased in multiples of Re 1. The minimum monthly SIP amount in these plans will also be Rs 500, which can be increased in multiples of Re 1. A minimum of 12 installments will be required under SIP.