Nippon India Mutual Fund collects Rs. 720 crores through NFO of Nippon India Multi Asset Fund

Nippon Life India Asset Management Limited (NAM India), Asset manager of Nippon India Mutual Fund (NIMF), successfully completed the NFO of Nippon India Multi Asset Fund (NIMAF).

The Fund has collected Rs. 720 crores, making it one of the largest digital NFO. This is one of the biggest amounts raised through an NFO during the pandemic. Over 80,000 investors spread across 370 locations and 6200 pin codes invested in the NFO through both digital & offline mode. 25,000 SIP applications received reflecting long-term commitment of many investors and distributors for the product. Over 60% of the applications came digitally through various digital platforms of NIMF and its partners.

NIMAF, is a unique# offering which allows investors to take exposure to four distinct asset classes - Domestic Equity, Foreign Equity, Commodities^ and Fixed Income making it a true-to-label multi asset fund.*

Saugata Chatterjee, Co-Chief Business Officer, Nippon India Mutual Fund said, "We are pleased with the tremendous response from investors and partners across the length and breadth of the country who have displayed their conviction in the benefits of diversification through asset allocation offered by our new fund offering Nippon India Multi Asset Fund (NIMAF). This was our first open ended actively-managed NFO after the brand change, launched under Nippon India Mutual Fund. The overwhelming response strongly reflects our strong distribution capabilities, sound digital infrastructure and trust in newly established brand".

Aashwin Dugal, Co-Chief Business Officer, Nippon India Mutual Fund, "We saw tremendous response from Family Offices and High Networth Individuals as well. The Fund had drawn the attention to the importance of investing across asset classes, particularly to foreign equities, as many investors, including HNIs, had negligible investments in assets like overseas equities and commodities. This NFO has also reaffirmed confidence reposed by Family Offices and HNIs in our newly established brand".

* Kindy refer Scheme Information Document (SID) for complete asset allocation details. The exposure shall be within the limits of SID depending on fund managers views and the market conditions.

# Follows a unique strategy of investing across domestic equity, international equity, commodities^ and fixed income with a constant allocation for each asset class.

^ Includes Gold ETF and Exchange Traded Commodity Derivatives (ETCDs) where participation will be limited to derivatives contracts in Metals, Energy and Indices as permitted by SEBI from time to time.

Shares of Nippon Life India Asset Management Limited was last trading in BSE at Rs.278.5 as compared to the previous close of Rs. 280.55. The total number of shares traded during the day was 95032 in over 3358 trades.

The stock hit an intraday high of Rs. 281.85 and intraday low of 275.2. The net turnover during the day was Rs. 26485358.

Source : Equity Bulls

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