Nippon India Mutual Fund launches Nippon India Innovation Fund

economictimes.indiatimes.com:

Nippon India Mutual Fund has announced the launch of Nippon India Innovation Fund, an open-ended equity scheme that will invest in innovation themes. The new fund offer of the scheme will open for subscription on August 9, and it will close on August 23. The performance of the scheme will be benchmarked against Nifty 500 TRI. The scheme will be managed by Vinay Sharma, and Kinjal Desai (overseas investment).

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The investment objective of the scheme is to provide long-term capital appreciation to investors by primarily investing in equity and equity-related securities of companies seeking to benefit from innovation. That is, companies that invest in innovation, research and development, new product development or new platforms to enhance their business and gain share in their respective sectors. The minimum investment amount required during NFO is Rs 500 and in multiples of Re 1 thereafter. The scheme will offer a regular plan and direct plan – with growth and IDCW options. The fund will invest at least 80% of its assets in innovative companies that have the potential to disrupt their industries and create significant value for investors in the long term. It will have the flexibility to invest across market caps and sectors. The fund's flexibility will allow it to identify the better investment opportunities by identifying companies ahead of the curve in new innovation, technologies or business models. The fund may be well-positioned to capture companies that have the potential for significant growth. The fund seeks to invest in innovative and disruptive technologies that may lead transformation and potentially may