NFONEST

September 2018

As the equity markets head upwards, new fund offers from mutual funds are on the rise. They attract investors with catchy and thematic advertising, pushed by various fund houses and distributors.

NFOs of various hues adorn the September 2018 NFONEST.

Reliance India Opportunities Fund – Series A

Opens: September 7, 2018

Closes: September 21, 2018

Reliance Mutual Fund has launched a new plan named as Reliance India Opportunities Fund - Series A, a close-ended equity oriented scheme. The scheme will have tenure of 1222 days from the date of allotment of units. The investment objective of the scheme 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 plan would invest 100% - 80% of assets in diversified equity and equity related instruments with high risk profile and 20% of assets would be allocated to debt and money market instruments with medium to low risk profile. The performance of the scheme would be benchmarked against S&P BSE 200 Index. The fund managers of the scheme are Sailesh Raj Bhan and Kinjal Desai.

Shriram Multicap Fund

Opens: September 7, 2018

Closes: September 21, 2018

Shriram Mutual Fund has launched a new fund named as Shriram Multicap Fund, an open ended equity scheme investing across large cap, mid cap, small cap stocks. The investment objective of the scheme is to generate long term capital appreciation by investing in an actively managed portfolio predominantly consisting of equity and equity related securities diversified over various sectors. The scheme would allocate 65%-100% of assets in equity and equity related instruments including derivatives with medium to high risk profile and 35% of assets would be allocated to debt and money market instruments with low risk profile. Benchmark Index for the scheme is NIFTY 500 TRI. The fund manager of the scheme is Kartik Soral.

Sundaram Long Term Tax Advantage Fund - Series V

Opens: June 25, 2018

Closes: September 24, 2018

Sundaram Mutual Fund has launched a new fund named as Sundaram Long Term Tax Advantage Fund - Series V, a closed-end equity linked saving scheme with a statutory lock in of 3 years and tax benefit. The tenure of the scheme is 10 years from the date of allotment of units. The investment objective of the scheme is to generate capital appreciation over a period of ten years by investing predominantly in equity and equity-related instruments of companies along with income tax benefit. The scheme will invest 80%-100% in equity and equity related securities with high risk profile and invest up to 20% of assets in fixed income and money market securities with low to medium risk profile. The scheme’s performance will be benchmarked against S&P BSE 500 Index. The fund managers of the scheme are S Krishnakumar and Dwijendra Srivastava.

ICICI Prudential Liquid ETF   

Opens: September 10, 2018

Closes: September 24, 2018

ICICI Prudential Mutual Fund has launched a new fund named as ICICI Prudential Liquid ETF, an open-ended Exchange Traded Fund tracking S&P BSE Liquid Rate Index. The investment objective of the scheme is to invest in CBLOs. The scheme aims to provide returns before expenses that closely correspond to the returns of S&P BSE Liquid Rate Index, subject to tracking errors. The scheme will invest 100% - 95% of its assets in CBLOs and invest up to 5% of assets in units of liquid schemes, money market instruments (with maturity not exceeding 91 days), cash and cash equivalents with low to medium risk profile. Benchmark Index for the scheme is S&P BSE Liquid Rate Index. The fund manager of the scheme is Rohan Maru.

Sundaram Emerging Small Cap Fund Series VII

Opens: September 10, 2018

Closes: September 24, 2018

Sundaram Mutual Fund has launched a new fund named as Sundaram Emerging Small Cap Series VII, a close-ended equity scheme investing predominantly in small cap stocks. The tenure of the scheme is 5 years from the date of allotment of units. The investment objective of the scheme is to seek capital appreciation by investing predominantly in equity/equity-related instruments of companies that can be termed as Small Caps. Small Cap Stocks are defined as 251st company onwards in terms of full market capitalization. The scheme will invest 65%-100% assets in equity and equity related instruments of small cap companies with high risk profile and invest up to 35% assets in fixed income and money market securities with low to medium risk profile. The scheme’s performance will be benchmarked against S&P BSE 250 Small Cap Index. The fund managers of the scheme are S Krishnakumar and Dwijendra Srivastava.

Sundaram Money Market Fund  

Opens: September 12, 2018

Closes: September 26, 2018

Sundaram Mutual Fund has launched a new fund named as Sundaram Money Market Fund, an open ended debt scheme investing in money market instruments having maturity of up to one year. The investment objective of the scheme is to generate income by investing in a portfolio comprising of money market instruments having maturity of up to one year. The scheme would allocate 100% of assets in money market instruments as defined by RBI/SEBI from time to time and cash with low to medium risk profile. Benchmark Index for the scheme is CRISIL Money Market Index. The fund managers of the scheme are Siddharth Chaudhary and Sandeep Agarwal.

BOI AXA Midcap Tax Fund - Series 2

Opens: July 12, 2018

Closes: October 11, 2018

BOI AXA Mutual Fund has launched a new fund named as BOI AXA Midcap Tax Fund - Series 2, a 10 year closed-ended equity linked savings scheme. The scheme seeks to generate capital appreciation over a period of ten years by investing predominantly in equity and equity-related securities of midcap companies along with income tax benefit. The scheme shall invest 65%-100% of assets in midcap equity and equity related securities such as cumulative convertible preference shares and fully convertible debentures and bonds of companies etc. with high risk profile and invest up to 35% of assets in debt and money market instruments with low to medium risk profile. Benchmark Index for the scheme is Nifty Midcap 100 TRI. The fund manager of the scheme is Saurabh Kataria.

 

Sundaram Multi Cap Fund – Series III-V, Tata Dual Advantage Fund - Series 6, Tata Small Cap Fund, IL&FS Infrastructure Debt Fund – Series 4, IIFL US Technology Fund, UTI Gilt Fund – 10 Year Constant Maturity Fund, India Bulls Savings Fund, ICICI Prudential Capital Protection Oriented Fund – Series XIV, SBI ETF Quality Fund, Sundaram Emerging Small Cap – Series VIII – X, Tata Nifty Exchange Traded Fund, Mirae Asset Nifty 50 ETF, Motilal Oswal Nifty 250 Index Fund, BNP Paribas Small Cap Fund, UTI Global Focused Growth Equity Fund, BOI AXA Small Cap Fund, Sundaram Equity Savings Fund, Motilal Oswal NASDAQ 100 Fund of Fund, IDBI Dividend Yield Fund and IDBI Healthcare Fund are expected to be launched in the coming months.