New Fund Offers (NFOs) in the Indian Market
The Indian mutual fund market has recently seen the launch of several exciting New Fund Offers (NFOs), providing investors with fresh opportunities to diversify their portfolios. Here are some of the notable NFOs that have opened for subscription:
1. Bank of India Money Market Fund
This open-ended money market fund aims to invest in short-term debt instruments such as treasury bills, commercial papers, and certificates of deposit. Managed by Mithraem Bharucha, the fund has a minimum investment requirement of ₹5,000 and is benchmarked against the CRISIL Money Market A-I Index2. The NFO closes on February 3, 2025.
2. UTI Nifty MidSmallcap 400 Momentum Quality 100 Index Fund – Regular Plan
This open-ended equity fund seeks to replicate the performance of the Nifty MidSmallcap 400 Momentum Quality 100 TRI Index. Managed by Sharwan Kumar Goyal, it focuses on mid and small-cap stocks with momentum and quality factors2. The fund has a minimum investment of ₹1,000 and will close on February 10, 2025. It carries a high-risk profile due to the volatility associated with mid and small-cap stocks2.
3. UTI Nifty India Manufacturing Index Fund
Another open-ended equity fund, this one aims to replicate the performance of the Nifty India Manufacturing Total Return Index. Managed by Ayush Jain and Sharwan Kumar Goyal, the fund focuses on stocks from India’s manufacturing sector2. It has a minimum investment of ₹5,000 and will also close on February 10, 2025.
These NFOs offer investors a variety of options to suit different investment preferences and risk appetites. Whether you’re looking for short-term income, exposure to mid and small-cap stocks, or investments in the manufacturing sector, there’s likely a fund that fits your needs.
