NFONEST

May 2021

Three NFOs of various hues are open at present and find a place in the May 2021 GEMGAZE.   

Tata Dividend Yield Fund

Opens: May 3, 2021

Closes: May 17, 2021

Tata Mutual Fund has launched its new fund offer – Tata Dividend Yield Fund, an open ended mutual fund scheme. The primary investment objective of the scheme is to provide capital appreciation and/or dividend distribution by investing predominantly in a well-diversified portfolio of equity and equity related instruments of dividend yielding companies. The scheme’s performance will be benchmarked against NIFTY Dividend Opportunities 50 Total Return Index. It will be managed by Mr. Sailesh Jain, Mr. Rahul Singh, Mr. Venkat Samala and Mr. Murthy Nagarajan.

Parag Parikh Conservative Hybrid Fund

Opens: May 7, 2021

Closes: May 21, 2021

Parag Parikh Mutual Fund has launched its new fund offer – Parag Parikh Conservative Hybrid Fund, an open ended balanced mutual fund scheme. The primary investment objective of the scheme is to generate regular income through investments predominantly in debt and money market instruments. The scheme will adopt a flexible model that will allow the fund manager to move between accrual and duration related instruments. These include the sovereign, state government, PSU and corporate securities across all maturities. The fund will have 10 to 25% exposure in equity and equity-related instruments. The allocation can be increased or reduced using arbitrage. The scheme will also be able to invest up to 10% of its asset in units of REITs and InvITs. The performance of the scheme will be benchmarked against CRISIL Hybrid 85+15 – Conservative Index TRI. Mr. Rajeev Thakkar, Mr, Raunak Onkar and Mr. Raj Mehta will manage the scheme.

Axis Global Innovation Fund of Fund

Opens: May 10, 2021

Closes: May 21, 2021

Axis Mutual Fund has launched ‘Axis Global Innovation Fund of Fund’. The fund will invest in Schroder International Selection Fund Global Disruption, an equity fund that invests in companies worldwide that benefit from disruption. The underlying fund is actively managed to access multiple disruption themes globally including environment, automation and healthcare among others. The scheme’s performance will be benchmarked against MSCI AC World Index Net Total Return Index. It will be managed by Mr. Hitesh Das (for Foreign Securities) and Mr. R. Sivakumar (For Debt portion).

UTI Focused Equity Fund, Baroda Business Cycle Fund, Kotak Nifty Alpha 50 ETF, Kotak Nifty 100 Low Volume 30 ETF, Navi Nifty Index Fund, Nippon India Taiwan Equity Fund, Mahindra Manulife Flexicap Yojana, IIFL Global Innovation Fund, Kotak AAA Bond Plus SDL ETF – 2026 Maturity, Kotak AAA Bond Plus SDL ETF – 2031 Maturity, Aditya Birla Sun Life Nifty Healthcare ETF, Kotak Enhanced Equity Fund, Aditya Birla Sun Life Nifty IT ETF and Aditya Birla Sun Life Financial Services ETF are expected to be launched in the coming months.