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Baroda BNP Paribas Mutual Fund has filed offer document with SEBI to launch an open ended scheme named ‘Baroda BNP Paribas Nifty Bank ETF ‘. The New Fund Offer price for Rs 10. Entry load and exit load will be nil. The Scheme does not offer any Plans/Options for investment and minimum target subscription amount for the Scheme to be raised is Rs 5 Crores.

The performance of the scheme is benchmarked by Nifty Bank Total Returns Index. The minimum application amount is Rs 5000 and in multiples of Re 1.

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 Bank Total Returns Index before expenses, subject to tracking errors, fees and expenses