Nippon India Mutual Fund launches Nippon India Nifty 500 Momentum 50 Index Fund

Nippon Life India Asset Management Limited (NAM India), asset manager of Nippon India Mutual Fund (NIMF), announces the launch of Nippon India Nifty 500 Momentum 50 Index Fund. An open-ended scheme replicating/tracking Nifty 500 Momentum 50 Index^.

Nippon India Nifty 500 Momentum 50 Index Fund - Unlocking India's Growth Potential - This innovative fund aims to capture the potential of India's growth story by investing in a basket of top 50 momentum-driven stocks from the Nifty 500 index universe.

The fund is a passively managed index fund which will employ an investment approach designed to track the performance of Nifty 500 Momentum 50 TRI. The fund is designed to provide investors with a diversified and efficient way to participate in the Indian equity market by investing in the underlying securities of the Nifty 500 Momentum 50 Index in the same proportion. The fund seeks to capitalize on the performance of stocks that have exhibited relatively strong momentum in the recent past.

The NFO opens on September 11, 2024, and closes on September 25, 2024. The minimum investment amount required during NFO is Rs 1000 and in multiples of Re 1 thereafter.

Speaking at the launch, Sundeep Sikka, ED and CEO, Nippon India Mutual Fund said, "We are thrilled to introduce the Nippon India Nifty 500 Momentum 50 Index Fund. This Fund offers investors a diversified exposure to India's growth story, while focusing on companies exhibiting strong upward momentum. Building on our distinguished track record in passive investments, we remain committed to deliver innovative and robust solutions that align with our customers' evolving financial goals."

Key Features of the Nippon India Nifty 500 Momentum 50 Index Fund:

Passive Management: The fund's investment approach is designed to replicate the performance of the Nifty 500 Momentum 50 TRI.

Diversification: The fund offers exposure to a wide range of stocks across market caps from the Nifty 500 Index, providing diversification benefits.

Momentum Focus: The fund's focus on momentum-driven stocks which may potentially enhance returns.

Low-Cost Structure: As an index fund, the fund typically has lower expense ratios compared to actively managed funds.

@Nippon India Mutual Fund offers 43 passive schemes inclusive varied offerings under ETF, Index Funds and Fund of Fund. @Nippon India ETF is one of the largest ETF players with AUM of INR 1.52 trillion (US$ 18.1 billion) and a market share of 18.3% as on August 31, 2024. Nippon India ETF commands 58% share of ETF folios in the industry as on August 2024 and 52% volume share on NSE and BSE.*

Source : Equity Bulls

Keywords

NipponLifeIndiaAssetManagement INE298J01013 NipponIndiaMutualFund NipponIndiaNifty500Momentum50IndexFund