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Aditya Birla Sun Life Mutual Fund (MF) has launched the Aditya Birla Sun Life Nifty 50 Equal Weight index Fund, an open-ended scheme tracking Nifty 50 Equal Weight TR Index. The NFO opens for subscription on May 19, 2021, and closes on June 02, 2021. The Entry load and Exit load is nil for the scheme. The minimum subscription amount is 500 and in multiples of Re 1 thereafter.

The performance of the scheme will be benchmarked to the performance of Nifty 50 Equal Weight TRI and its fund manager is Lovelish Solanki.

The investment objective of the scheme is to provide returns that closely correspond to the total returns of securities as represented by Nifty 50 Equal Weight TR Index, subject to tracking errors.