Aditya Birla Sun Life Mutual Fund files draft document for Nifty India Defence Index Fund
Aditya Birla Sun Life Mutual Fund has filed a draft document with Sebi for a new defence fund, becoming the third fund house to offer a passive fund focused on the defence sector. The draft is for the Nifty India Defence Index Fund.
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In the past year, the Nifty India Defence — TRI has delivered an impressive absolute return of 162%, making it an attractive option among mutual funds.
The Aditya Birla Sun Life Nifty India Defence Index Fund is an open-ended index fund that replicates the Nifty India Defence Total Return Index.
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The scheme aims to provide returns that, before expenses, match the total returns of the securities represented by the Nifty India Defence Total Return Index, subject to tracking errors.
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The scheme will be benchmarked against Nifty India Defence Total Return Index and will be managed by Haresh Mehta and Pranav Gupta.
The scheme will offer both regular and direct plans with growth and IDCW options. There will be no exit load. The minimum investment amount for lump sum investments is Rs 500, with additional investments in multiples of Rs 100.
For monthly and weekly SIPs, the minimum investment is Rs 500, with
