Nippon India Mutual Fund files offer document for Income Plus Arbitrage Omni Fund of Fund
Nippon India Mutual Fund has filed offer document with SEBI to launch an open-ended fund of funds scheme named ‘Nippon India Income Plus Arbitrage Omni Fund of Fund’. The New Fund Offer price will be Rs 10 per unit during the NFO. Entry load and Exit load will be nil. The Scheme offers growth and IDCW plans for investment and seeks to collect a Minimum Target Amount of Rs 10 crore.
The performance will be benchmarked against 60% CRISIL Short Term Bond Index + 40% Nifty 50 Arbitrage Index. The minimum application amount during NFO will be Rs 500 and in multiples of Re 1 thereof.
The investment objective of the scheme is to invest in units of domestic active and passive debt-oriented schemes and Arbitrage schemes of Nippon India Mutual Fund or any other Mutual Fund(s) in order to generate regular income.
