Nippon India MF introduces Innovation Fund
Nippon India Mutual Fund (MF) has launched Nippon India Innovation Fund, an open-ended equity scheme investing in innovation theme. The NFO opens for subscription on August 09, 2023 and closes on August 23, 2023. The Entry load is nil for the scheme. The Exit load of 1%, if redeemed or switched out on or before completion of 1 year from the date of allotment of units and nil, if redeemed or switched out after completion of 1 year from the date of allotment of units. The minimum subscription amount is Rs 500 and in multiples of Re 1 thereafter.
The performance of the scheme will be benchmarked against Nifty 500 TRI and its fund managers are Vinay Sharma and Kinjal Desai.
The investment objective of the scheme is to provide long term capital appreciation to investors by primarily investing in equity and equity related securities of companies seeking to benefit from innovation i.e companies that invest in innovation, research and development, new product development or new platforms to enhance their business and gain share in their respective sectors.
