NFONEST

September 2020

After a lone New Fund Offer (NFO) made its appearance in June 2020, July 2020 and August 2020 had just two NFOs open in view of the ongoing COVID-19 pandemic. In September 2020, there has been a tremendous improvement in the situation with five NFOs open at present.   

SBI Magnum Children’s Benefit Fund – Investment Plan

Opens: September 8, 2020

Closes: September 22, 2020

SBI Mutual Fund has launched SBI Magnum Children’s Benefit Fund – Investment Plan, a solution oriented open-ended predominantly debt-oriented fund to enable parents to invest for future education and career of their children. The scheme has a lock-in for at least five years or till the child attains the age of majority whichever is earlier. This scheme will predominantly invest in equity and equity-related instruments including equity ETFs with a minimum of 65% going up to 100%, debt including debt ETFs and money market instruments up to a maximum of 35%, Reits and InvITs up to 10% and up to 20% in gold ETFs. The fund will be benchmarked against CRISIL Hybrid 35+65 -Aggressive Index. The fund managers are Mr. R Srinivasan, Mr. Dinesh Ahuja and Mr. Mohit Jain.

Invesco India Focused 20 Equity Fund

Opens: September 9, 2020

Closes: September 23, 2020

Invesco Mutual Fund has launched Invesco India Focused 20 Equity Fund, an open-ended equity scheme investing in a maximum 20 stocks across market capitalization. A large portion of the portfolio will be invested in large-cap stocks i.e. between 50% - 70%, 30% to 50% in mid cap stocks and 0-20% in small cap stocks. Taher Badshah, who has over 26 years of experience in the Indian equity markets, will manage the fund. The scheme will benchmark its performance to S&P BSE 500 TRI. BSE 500 is a stock market index with the Bombay Stock Exchange. It has stocks of 500 companies listed under it. Since it has the top 500 companies listed with the BSE, the exchange claims that this index covers all major industries in the country.

HSBC Corporate Bond Fund

Opens: September 14, 2020

Closes: September 28, 2020

HSBC Mutual Fund has launched HSBC Corporate Bond Fund – an open ended debt scheme that will predominantly invest in AA+ and above rated corporate bonds. The scheme aims to deliver better risk adjusted returns with a high credit quality portfolio of debt securities across maturities. The product is suitable for investors who are seeking income over medium term by investing predominantly in corporate bond securities rated AA+ and above. The fund will be benchmarked against NIFTY Corporate Bond Index and managed by Ritesh Jain, SVP and Head of Fixed Income, HSBC MF.

Sundaram Bluechip Fund

Opens: September 17, 2020

Closes: September 30, 2020

Sundaram Mutual Fund has launched Sundaram Bluechip Fund, an open-ended equity scheme that will predominantly invest in large cap bluechip stocks. The scheme will invest in a diversified large cap portfolio of 45-50 growth and value stocks without any sectoral bias. The fund will invest up to 20% of assets in midcaps. The fund will be benchmarked against NIFTY 100 TRI Index. The fund managers are Mr. Rahul Baijal and S Krishnakumar for equity, Mr. Dwijendra Srivastava for fixed income and Mr. Rohit Seksaria for investments in overseas securities.

ICICI Prudential ESG Fund

Opens: September 21, 2020

Closes: October 5, 2020

ICICI Prudential Mutual Fund has launched ICICI Prudential ESG Fund, an open-ended equity scheme which encourages sustainable investing, by investing in companies which follow environmental, social and governance (ESG) theme. ESG focused companies show better growth and demonstrate better resilience in downturns. ICICI Prudential ESG Fund addresses the growing need of responsible investing and allows investors to benefit from investing in companies which are able to maintain suitable ESG scores. The Scheme will be managed by Mrinal Singh, Deputy CIO- Equities and the benchmark is Nifty 100 ESG Index TRI.

PGIM India Balanced Advantage Fund and UTI Momentum Index Fund are expected to be launched in the coming months.