NFO Watch: Tata Mutual Fund launches Tata Nifty India Tourism Index Fund
Tata Mutual Fund has launched Tata Nifty India Tourism Index Fund, the nation's first tourism index fund comprising a collection of companies forming part of Nifty 500.
The new fund offer or NFO of the scheme is open for subscription and will close on July 19. The scheme will reopen for continuous sale and repurchase on or before July 29.
The investment objective of the scheme is to provide returns, before expenses, that commensurate with the performance of Nifty India Tourism Index (TRI), subject to tracking error.
Best MF to invest
Looking for the best mutual funds to invest? Here are our recommendations.
View Details» <div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-111580003»>
The Tata Nifty India Tourism Index Fund will track the Nifty India Tourism Index (TRI, i.e., total returns index). The scheme will be managed by Kapil Menon.
The minimum application amount is Rs 5,000 and in multiples of Re 1 thereafter. An exit load of 0.25 % of the applicable NAV will be applied, if redeemed on or before 15 days from the date of allotment.
The fund will allocate 95-100% in securities covered by Nifty India Tourism Index and 0-5% in debt / money market instruments including units of mutual funds. The maximum total expenses ratio (TER) permissible under Regulation 52 (6) (d) (ii) is upto 1%.
The fund is an open-ended index fund that has been meticulously designed to provide investors with exposure to India’s fastest growing companies from travel, tourism and hospitality businesses. The companies forming the index are leaders in their respective segments and have benefitted from
