NFONEST

January 2020

NFOs of various hues adorn the January 2020 NFONEST.

Tata Quant Fund

Opens: January 3, 2020

Closes: January 17, 2020

Tata Mutual Fund has launched a new fund named as Tata Quant Fund, an open ended equity scheme following quant based investing theme. The investment objective of the scheme is to generate medium to long-term capital appreciation by investing in equity and equity related instruments selected based on a quantitative model (Quant Model). The scheme would allocate 80%-100% of assets in equity and equity related instruments with medium to high risk profile and invest up to 20% of assets to debt and money market instruments with low to medium risk profile and up to 10% of assets to units issued by REITs & InvITs with medium to high risk profile. Benchmark Index for the scheme is S&P BSE 200 TRI. The fund manager of the scheme is Sailesh Jain.

ICICI Prudential Midcap 150 ETF

Opens: January 15, 2020

Closes: January 20, 2020

ICICI Prudential Mutual Fund has launched ICICI Prudential Midcap 150 ETF. It is an open ended Exchange Traded Fund tracking Nifty Midcap 150 Index. The investment objective of the scheme is to provide returns before expenses that closely correspond to the total return of the underlying index, subject to tracking errors. The performance of the fund will be benchmarked against Nifty Midcap 150 TRI. The fund will be managed by Mr. Kayzad Eghlim.

Mirrae Asset Nifty Next 50 ETF (MANXT50ETF)

Opens: January 13, 2020

Closes: January 21, 2020

Mirae Asset Mutual Fund has launched the Mirae Asset Nifty Next 50 ETF (MANXT50ETF), an open ended scheme replicating/tracking Nifty Next 50 Total Return Index. The investment objective of the scheme is to generate returns, before expenses, that are commensurate with the performance of the Nifty Next 50 Total Return Index, subject to tracking error. The scheme’s performance will be benchmarked against Nifty Next 50 TRI (Total Return Index) and its fund manager is Bharti Sawant.

Axis All Seasons Debt Fund of Funds

Opens: January 10, 2020

Closes: January 24, 2020

Axis Mutual Fund has launched a new fund named as Axis All Seasons Debt Fund of Funds, an open ended fund of funds scheme investing in debt oriented mutual fund schemes. The investment objective of the scheme is to generate optimal returns over medium term by investing primarily in debt oriented mutual fund schemes. The scheme will allocate 95% - 100% of assets in units of debt oriented mutual fund schemes with medium risk profile and invest up to 5% of assets in money market instruments with low risk profile. Benchmark Index for the scheme is NIFTY Composite Debt Index. The fund manager of the scheme is R Sivakumar.

HSBC Ultra Short Duration Fund

Opens: January 14, 2020

Closes: January 28, 2020

HSBC Mutual Fund has launched a new fund named as HSBC Ultra Short Duration Fund, an open ended ultra-short term debt scheme investing in instruments such that the Macaulay Duration of the portfolio is between 3 months to 6 months. The investment objective of the scheme is to provide liquidity and generate reasonable returns with low volatility through investment in a portfolio comprising of debt and money market instruments. The scheme would allocate up to 100% of assets in Debt, Money Market instruments such that Macaulay duration of the portfolio is between 3 months to 6 months with low to medium risk profile. The performance of the Scheme/Plan(s) will be benchmarked with CRISIL Ultra Short Term Debt Index. The fund manager of the scheme is Kapil Punjabi.

Sundaram Arbitrage Fund

Opens: January 16, 2020

Closes: January 30, 2020

Sundaram Mutual Fund has launched the Sundaram Arbitrage Fund. It is an open ended scheme investing in arbitrage opportunities. The investment objective of the scheme is to generate income with minimal volatility by investing in equity, arbitrage strategies which fully offset the equity exposure and investments in debt instruments. The performance of the fund will be benchmarked against NIFTY 50 Arbitrage Index. The fund will be managed by Mr. S Bharath and Mr Rohit Seksaria.

Nippon India Multi Asset Fund, Nippon India Freedom FOF, JM Nifty Bank Index Fund, JM Credit Risk Fund, JM Nifty Midcap 100 Index Fund, JM Nifty Smallcap 100 Index Fund, BOI AXA Mutual Fund, PGIM India Mutual Fund, Kotak Nifty Next 50 Index Fund, Nippon India Nifty Midcap 150 Index Fund, Nippon India Nifty Smallcap 250 Fund, Nippon India ETF Nifty IT and UTI Small Cap Fund are expected to be launched in the coming months.