NFOs in November: These five new fund offers are open: Check details of each
As November begins, mutual fund investors will get a choice of five new fund offers. All are from prominent asset management companies. They offer a variety as well, from Income Plus Arbitrage Passive Fund of Funds to a Nifty Chemical ETF.
Kolkata: Mutual funds have become a rage for millions of Indians who are committing both lump sum investments and SIPs in increasing numbers for the past few years. Right now, as many as five mutual fund schemes are open for subscription. Asset management companies such as Axis, Kotak, Groww, and Zerodha are coming out with these new fund offerings. They offer an opportunity for investors (NFOs) this month. These schemes offer investors a golden opportunity to invest in new sectors and indexes. Let's have a look at the features of each of these.
Axis Income Plus Arbitrage Passive FOF
Axis Mutual Fund has launched Axis Income Plus Arbitrage Passive Fund of Funds on October 28. This NFO will remain open till November 11. From the name of the scheme it is difficult to understand where the fund will invest. Please note that it will focus on debt-oriented mutual funds, ETFs and arbitrage funds. The objective is to offer investors stable returns and simultaneously save on equity-like tax expenditure. The fund's broad objective is to achieve stable returns with low risk.
Kotak Nifty Chemicals ETF
The Kotak Nifty Chemicals ETF is an open-ended scheme which, as the name suggests, will track the Nifty Chemicals Index. This means the fund will invest in companies operating in the chemical sector. It was launched on October 23. This NFO will remain open till November 6. This ETF provides investors with exposure to the rapidly growing Indian chemical sector.
Groww Nifty Midcap 150 ETF and Index Fund
Groww Mutual Fund has launched two new schemes: Groww Nifty Midcap 150 ETF and Groww Nifty Midcap 150 Index Fund. Both schemes are based on the Nifty Midcap 150 Index and will be open for investment until November 11. These funds are appropriate for investors seeking long-term growth potential through mid-cap stocks.
Zerodha BSE Sensex Index Fund
Zerodha Mutual Fund launched the Zerodha BSE Sensex Index Fund on October 20. It will track the country's oldest and most popular index the BSE Sensex. The new fund offer will close on November 3 and aims to offer investors a simple and transparent investment opportunity in the 30 large cap companies that constitute the Sensex.
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