NFONEST
April 2019
The lone NFO from
Indiabulls Mutual Fund adorns the April 2019 NFONEST.
Indiabulls Nifty 50
Exchange Traded Fund
Opens: April 8, 2019
Closes: April 22,
2019
Indiabulls
Mutual Fund has launched a new open ended scheme tracking the Nifty 50 Index. The
investment objective of the scheme is to provide returns that closely
correspond to the total returns of the securities as represented by the
underlying index, subject to tracking error. The performance of the scheme will
be benchmarked against NIFTY 50 Total Return Index. As
Indiabulls Nifty 50 ETF will replicate the diversified Nifty 50 Index, the
scheme will invest in large cap equities across multiple sectors. Equity
investments including derivatives of the new fund will range from 95 to 100%,
while the remainder, accounting for up to 5% of assets will be invested in
various money market and debt instruments. Mr.
Malay Shah shall manage the debt portion and Mr. Veekesh Gandhi the equity
portion.
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