Nippon India Mutual Fund launches Nippon India Nifty Bank Index Fund

NFO period: 05^th February – 16^th February, 2024

Highlights of the NFO:

• Scheme type – An open-ended scheme replicating/tracking Nifty Bank Index


• Investment objective – 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 Bank Index before expenses, subject to tracking errors. However, there can be no assurance or guarantee that the investment objective of the scheme will be achieved.


• Product suitability – The product is suitable for investors who are seeking long term capital growth by investing in equity and equity related securities and portfolio replicating the composition of the Nifty Bank Index, subject to tracking errors.


• Minimum Application Amount – First investment is Rs. 1,000/- and multiples of Rs. 1/- thereafter


• Plan/ Options available – Regular Plan & Direct Plan having Growth and Income Distribution cum Capital Withdrawal (IDCW) (Payout and Re-investment Facility).


• Fund Managers – Mr. Himanshu Mange


• Benchmark – Nifty Bank TRI