Tata Group has announced the launch of three mutual fund schemes this week which will open for subscription for the new fund offer. As per ACE MF data, three index funds and a thematic fund will open for subscription this week. These include Tata Nifty Auto Index Fund, Tata Nifty Realty Index Fund and Tata Nifty Financial Services Fund which will open for subscription on April 8. Another new fund offered by Bandhan Mutual Fund will open for subscription this week on April 10.
Tata Nifty Auto Index Fund: This is an open-ended scheme replicating/tracking Nifty Auto Index (TRI) and will open for subscription on April 8. The mutual fund scheme will close for subscription on April 22. For application, the minimum amount for the scheme is ₹5,000 and in multiple of Re1 thereafter.
Tata Nifty Realty Index Fund: This open-ended scheme replicates/tracks Nifty Realty Index (TRI) and will open for subscription on April 8 and close on April 22. The scheme will be suitable for investors who are seeking long-term capital appreciation and seek investment in equity and equity related instruments that are included in Nifty Realty Index.
Tata Nifty Financial Services Fund: The open ended scheme replicating/tracking Nifty Financial Services Index will open for subscription on April 8 and close on April 22. It will be benchmarked against NIFTY Financial Services Index (TRI).
Bandhan Innovation Fund: The open-ended equity scheme will open for subscription on April 10 and close on April 24. The scheme will be benchmarked against Nifty 500 – TRI. For investors, the minimum application amount is ₹1,000 and in multiples of Re 1 thereafter.
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