NFONEST
October 2019
NFOs of various hues
adorn the October 2019 NFONEST.
Aditya Birla Sun Life Banking ETF
Opens: October 16, 2019
Closes: October 22,
2019
Aditya
Birla Sun Life Mutual Fund launched Aditya Birla Sun Life Banking ETF, an open
ended ETF tracking Nifty Bank Index. The fund seeks to mirror returns of a bank
index. The investment objective of the scheme is to provide returns that,
before expenses, closely correspond to the total returns of the securities as
represented by the Nifty Bank Index. However, the performance of the scheme may
differ from that of the underlying index due to tracking error. The product is
suitable for investors who are seeking long term capital growth by investing in
stocks comprising the underlying index and endeavors to track the benchmark
index. The fund is benchmarked against the Nifty Bank TRI. The fund will be
managed by Lovelish Solanki.
ITI Overnight Fund
Opens: October 9,
2019
Closes: October 23,
2019
ITI
Mutual Fund has launched an open-ended debt fund, ITI Overnight Fund, investing
in overnight securities. The investment objective of the fund is to provide
reasonable returns commensurate with low risk and providing a high level of
liquidity, through investments made primarily in overnight securities having
maturity of 1 business day. The product is suitable for investors who are
seeking regular income with low risk and high level of liquidity by investing
in money market and debt instruments with overnight maturity. The fund is
benchmarked against the CRISIL Overnight Index. The fund is managed by Mr.
Milan Mody and Mr.George Heber Joseph.
Kotak Pioneer Fund
Opens: October 9,
2019
Closes: October 23,
2019
Kotak Mahindra Mutual Fund has launched
Kotak Pioneer Fund, an open-ended thematic equity fund investing in pioneering
innovations theme. The investment objective of the fund is to generate capital
appreciation from a diversified portfolio of equity, equity related instruments
and units of global mutual funds which invest into such companies that utilize
new forms of production, technology, distribution or processes which are likely
to challenge existing markets or value networks, or displace established market
leaders, or bring in novel products and/or business models. The product is suitable for investors who are seeking long
term capital growth by investing in equity and equity related securities of
companies operating with pioneering innovations theme without any market
capitalisation and sector bias. The Benchmark Index is – 85% IISL KOTAK INDIA
PIONEERING INNOVATIONS INDEX + 15% MSCI ACWI INFORMATION TECHNOLOGY INDEX TRI.
The Fund Managers are Mr. Harish Krishnan and Mr. Arjun Khanna.
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