NFO Tracker: Bajaj Finserv Mutual Fund launches consumption fund
Bajaj Finserv Mutual Fund has announced the launch of Bajaj Finserv Consumption Fund, an open ended equity scheme following the consumption theme.
The new fund offer or NFO of the scheme will open for subscription on November 8 and will close on November 22. The scheme will reopen for continuous sale and repurchase within five business days of allotment date.
The objective of the scheme is to generate long term capital appreciation by predominantly investing in equity and equity related securities of companies that are likely to benefit directly or indirectly from the domestic consumption led demand.
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The scheme will be benchmarked against Nifty India Consumption Total Return Index (TRI). The scheme will be managed by Nimesh Chandan, Sorbh Gupta, and Siddharth Chaudhary.
The minimum application amount for lumpsum investment is Rs 500 and in multiples of Re 1 thereafter. For SIP, the minimum amount is Rs 500 and above with minimum six installments.
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