NFO NEST

November 2015

NFOs of various hues

NFOs of various hues adorn the November 2015 NFONEST.

Peerless Long Term Advantage Fund

Opens: November 9, 2015

Closes: November 21, 2015

Peerless Mutual Fund has launched a new fund named as Peerless Long Term Advantage Fund, an open ended equity linked savings scheme with a 3 year lock-in. The fund will seek to invest predominantly in a diversified portfolio of equity and equity related instruments with the objective of providing investors with opportunities for capital appreciation and income generation along with the benefit of income tax deduction (under Section 80 C of the Income Tax Act, 1961) on their investments. The fund will invest 80%-100% in equity and equity related instruments with high risk profile and invest up to 20% of assets in debt and money market instruments with low to medium risk profile. Benchmark Index for the fund is S&P BSE 100 Index. The fund will be managed by Amit Nigam and Killol P.Pandya.

LIC Nomura MF Exchange Traded Fund - Sensex

Opens: November 9, 2015

Closes: November 23, 2015

LIC Nomura Mutual Fund has launched an open ended Exchange Traded Fund- LIC Nomura MF Exchange Traded Fund - Sensex. It is Rajiv Gandhi Equity Savings Scheme (RGESS) Qualified Scheme. The investment objective of the fund is to provide returns that closely correspond to the total returns of the securities as represented by the S&P BSE Sensex by holding S&P BSE Sensex stocks in same proportion, subject to tracking errors. The fund will invest 95%-100% of assets in securities covered by the Sensex  with medium to high risk profile and invest up to 5% of assets in cash and cash equivalent/money market instruments including CBLO (with maturity not exceeding 91 days) with low risk profile. The fund’s performance will be benchmarked against S&P BSE SENSEX and its fund manager is Sachin Relekar.

Reliance Capital Builder Fund II – Series B

Opens: November 10, 2015

Closes: November 24, 2015

Reliance Mutual Fund has launched a new fund named as Reliance Capital Builder Fund III - Series B, a close ended equity oriented fund with the duration of 582 days from the date of allotment. The investment objective of the fund is to provide capital appreciation to the investors, which will be in line with their long term savings goal, by investing in a diversified portfolio of equity and equity related instruments with small exposure to fixed income securities. The fund will allocate 80%-100% of assets in diversified equity and equity related instruments with high risk profile and invest up to 20% of assets in debt and money market instruments with low to medium risk profile. Benchmark Index for the fund is S&P BSE 200 Index. The fund managers are Omprakash Kuckian and Jahnvee Shah (Fund manager-overseas investments).

India Bulls Monthly Income Plan

Opens: November 10, 2015

Closes: November 25, 2015

Indiabulls Mutual Fund has launched the Indiabulls Monthly Income Plan, an open ended income fund. The investment objective of the fund is to generate regular monthly returns through investment primarily in debt securities. The secondary objective of the fund is to generate long-term capital appreciation by investing a portion of the fund's assets in equity securities. Monthly income is not assured and is subject to availability of distributable surplus. The fund’s performance will be benchmarked against CRISIL MIP Blended Index and its fund managers are Malay Shah and Sumit Bhatnagar.

Kotak NV 20 ETF

Opens: November 12, 2015

Closes: November 26, 2015

Kotak Mutual Fund launches a new fund as Kotak NV 20 ETF, an open ended exchange traded fund, with the objective of providing returns before expenses that closely correspond to the total returns of stocks as represented by the NV 20 Index, subject to tracking errors. The fund will invest 95%-100% of assets in stocks comprising NV 20 Index with medium to high risk profile and invest up to 5% of cash and debt/money market instruments with low risk profile. The fund's performance will be benchmarked against NV 20 Index. The fund will be managed by Deepak Gupta.

Axis Childrens Gift Fund

Opens: November 18, 2015

Closes: December 2, 2015

Axis Mutual Fund has launched the Axis Children’s Gift Fund, an open ended income fund. The fund aims at generating income by investing in debt and money market instruments along with long-term capital appreciation through investments in equity and equity related instruments. The fund managers are Pankaj Murarka and Kedar Karnik.

DHFL Pramerica Tax Savings Fund

Opens: October 19, 2015

Closes: December 4, 2015

DHFL Pramerica Tax Savings Fund is an open ended equity linked savings scheme with a lock-in period of 3 years. The primary objective of the fund is to generate long-term capital appreciation by predominantly investing in equity and equity related instruments and to enable eligible investors to avail deduction from total income, as permitted under the Income Tax Act, 1961 as amended from time to time. The fund will invest 80-100% of assets in equity and equity related instruments with high risk profile and up to 20% in cash, money market instruments and liquid schemes of DHFL Pramerica Mutual Fund with low to medium risk profile. The benchmark Index for the fund is BSE 200 Index. The fund will be managed by Brahmaprakash Singh (equity component) and Ritesh Jain (debt component). 

Tata Mutual Fund is launching five new funds and one existing fund under the theme of Own a Piece of India - Tata Banking and Financial Services Fund, Tata India Consumer Fund, Tata Digital India Fund, Tata India Pharma & Healthcare Fund, and Tata Resources & Energy Fund. UTI Long Term Advantage Fund Series III, Edelweiss Exchange Traded Scheme Quality 30, Axis Nifty ETF, DSP Blackrock Absolute Return Fund, Birla Sunlife Dual Advantage Fund Series I-V, Kotak capital Protection Oriented Scheme - Series 3 and 4, and IDFC Balanced Fund are expected to be launched in the coming months.