UTI Innovation Fund, three other NFOs open this week; should you invest?
UTI Innovation Fund and Kotak Nifty G-Sec July 2033 Index Fund are open for subscription. Motilal Oswal Nifty 500 ETF and Bandhan Retirement Fund will open for subscription later this week.
UTI Innovation Fund
UTI Innovation Fund is an open-ended equity scheme following innovation theme. The new fund offer or the NFO of the scheme is open for subscription and it will close on October 9.
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View Details»The performance of the scheme will be benchmarked against Nifty 500 TRI. The scheme will be managed by Ankit Agarwal, and Deepesh Agarwal (overseas investments).
The investment objective of the scheme is to provide medium to long-term capital appreciation through investment primarily in growth and innovation-oriented equity and equity-related instruments. The scheme will offer regular and direct plans with growth and IDCW options.
The scheme will focus on Technology, Innovation, and Disruption (‘‘TID’’). The scheme will predominantly follow a bottom-up approach to seek but not be limited to companies that exhibit strong TID characteristics.
The minimum application amount is Rs 5,000 and in multiples of Re 1 thereafter. Subsequent minimum investment amount under a folio is Rs 1,000 and in multiples of Re 1 thereafter with no upper limit.
Kotak Nifty G-Sec July 2033 Index Fund
Kotak Nifty G-Sec July 2033 Index Fund is an open-ended target maturity index fund investing in constituents of Nifty G-Sec July 2033 Index. The scheme will have a relatively high interest rate risk and relatively low credit risk. The new fund offer or NFO of the scheme is open for subscription and will close on October 9.
The scheme will be benchmarked against Nifty
