Nippon India Mutual Fund files offers document for Nifty Realty Index Fund
Nippon India Mutual Fund has filed offer document with SEBI to launch an open-ended scheme traded fund named ‘Nippon India Nifty Realty Index Fund ‘. The offer price is Rs 10 each. Entry load and Exit load will be nil. 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 against Nifty Realty TRI. The minimum application amount is Rs 1000 and in multiples of Re 1 thereafter.
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 Realty Index before expenses, subject to tracking errors.
