The new fund offer of the scheme is open for subscription and will close on June 5. The scheme will open for purchase and redemption within five business days from the date of allotment.
The performance of the scheme will be benchmarked against NIFTY50 Equal Weight TRI. The scheme will be managed by Sharwan Kumar Goyal and Ayush Jain.
The investment objective of the scheme is to provide returns that, before expenses, correspond to the total return of the securities as represented by the underlying index, subject to tracking error.
The minimum subscription amount is Rs 5,000 and in multiples of Rs 1 thereafter. The minimum SIP amount for daily, weekly, and monthly SIP is Rs 500 and in multiples of Rs 1 thereafter. The minimum SIP amount for quarterly SIP is Rs 1,500 and in multiples of Rs 1 thereafter. The scheme will offer a regular plan and direct plan – with growth and IDCW options.
The scheme will invest 95-100% in securities covered by the Nifty50 Equal Weight Index and 0-5% in debt/ money market instruments including tri-party repo on government securities or treasury bills and units of liquid mutual funds.
The scheme is a low-cost index fund that tracks the Nifty50 Equal Weight Index passively. The scheme endeavors to achieve a return equivalent to the underlying index while minimizing tracking error.The scheme is suitable for investors who are seeking returns that are commensurate with the performance of the NIFTY50 Equal Weight Index over the long term, subject to tracking error. Investment in securities covered by the NIFTY50 Equal Weight Index.
