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Nippon India Mutual Fund (MF) has launched the Nippon India Nifty Auto ETF, an open-ended scheme replicating/ tracking Nifty Auto Index. The NFO opens for subscription on January 05, 2022 and closes on January 14, 2022. The Entry load and the Exit load is not applicable for the scheme. The minimum subscription amount is Rs 1,000 & in multiples of Re 1 thereafter.

The performance of the scheme shall be benchmarked to the  NIFTY Auto TRI and its fund manager is Mehul Dama

The investment objective of the scheme is to provide investment returns closely corresponding to the total returns of the securities as represented by the NIFTY Auto Index before expenses, subject to tracking errors.