The new fund offer of the scheme is open for subscription and will close on May 24. The scheme will commence for sale/ repurchases within five business days from the date of allotment.
The performance of the scheme will be benchmarked against S&P BSE Sensex TRI. The scheme will be managed by Raviprakash Sharma.
The investment objective of the scheme is to replicate the composition of the S&P BSE Sensex Index and to generate returns that are commensurate with the performance of the S&P BSE Sensex Index, subject to tracking errors.
The minimum subscription amount is Rs 5,000 and in multiples of Rs 1 thereafter. The additional purchase amount is Rs. 1,000 and in multiples of Rs 1 thereafter. The scheme will offer Regular Plan and Direct Plan – with Growth and IDCW options.
The scheme will invest 95-100% in stocks comprising the S&P BSE Sensex Index and 0-5% in government securities including tri-party repo and units of liquid mutual fund.
The scheme will adopt a passive investment strategy. The scheme will invest in stocks comprising the S&P BSE Sensex Index in the same proportion as in the index with the objective of achieving returns equivalent to the Total Returns Index of the S&P BSE Sensex Index by minimizing the performance difference between the benchmark index and the scheme.The scheme is suitable for investors who are seeking long-term capital appreciation. Passive investment in stocks comprising the S&P BSE Sensex in the same proportion as in the index to achieve returns equivalent to the total returns index of the S&P BSE Sensex Index.
