Bandhan Mutual Fund files offers document for Nifty Total Market Index Fund
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Bandhan Mutual Fund has filed offer document with SEBI to launch an open-ended scheme named ‘Bandhan Nifty Total Market Index Fund'. The offer rate is Rs 10 per unit. Exit load will be nil. Exit load will be 0.25% -if redeemed on or before 15 days from the allotment date, and Nil -if redeemed after 15 days from the allotment date. The Scheme offers Growth Option and Income Distribution Cum Capital Withdrawal Option for investment and minimum target subscription amount for the Scheme to be raised is Rs 5 crore.
The performance of the scheme will be benchmarked by Nifty Total Market Index TRI. The minimum application amount is Rs 1,000 and in multiples of Re 1 thereafter.
The investment objective of the scheme replicates the Nifty Total Market Index by investing in securities of the Nifty Total Market Index in the same proportion / weightage with an aim to provide returns before expenses that tracks the total return of Nifty Total Market Index, subject to tracking errors.
