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Nippon India Mutual Fund has launched Nippon India Nifty 500 Momentum 50 Index Fund, an open-ended scheme replicating/tracking Nifty 500 Momentum 50 Index. The NFO opens for subscription on September 11, 2024 and closes on September 25, 2024. No Entry Load is charged and the Exit Load is nil for the scheme. The minimum subscription amount is Rs 1,000 and in multiples of Re. 1 thereafter.

The performance of the scheme will be benchmarked with Nifty 500 Momentum 50 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 Momentum 50 Index before expenses, subject to tracking errors.