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Nippon India Mutual Fund has launched Nippon India Nifty 500 Equal Weight Index Fund, an open-ended scheme replicating/tracking Nifty 500 Equal Weight Index. The NFO opens for subscription on August 21, 2024 and closes on September 04, 2024. The Entry Load is not applicable and Exit Load will be nil for the scheme. The minimum subscription amount is Rs 1000/- and in multiples of Re 1/- thereafter.

The performance of the scheme will be benchmarked with Nifty 500 Equal Weight TRI and its fund manager is Himanshu Mange.

The investment objective of the scheme is to provide investment returns that commensurate to the total returns of the securities as represented by the Nifty 500 Equal Weight Index before expenses, subject to tracking errors.