New Fund Offers This Week: Tourism, Index, Multi Asset Schemes In Focus

The first week of September will see more than 10 new fund offers opening. These range from index funds and multi asset funds to dividend yield funds.

More than 100 new fund offers have been launched in 2024. These fund offerings, spread across categories, have had a massive appeal among investors as the inflow into the industry that NFOs alone account for stood at Rs 16,565 crore in July.

Here's all you need to know about NFOs open this week:

Kotak Nifty India Tourism Index Fund is the second index fund that tracks the broader markets in the tourism space. The Nifty Tourism TRI was listed on June 18, 2024 and the Tata Tourism Index fund was launched on July 24, 2024. Launching on Monday, the NFO is open till Sept. 16.

Launched under the Index Fund category, the fund has a minimum subscription of Rs 100 and any amount thereafter. The scheme seeks to provide returns that corresponds to the total returns of the Nifty Tourism Index.

UTI Nifty Private Bank Index Fund, launching on Monday closes on Sept. 16. The investment objective of the scheme is to provide returns that, before expenses, corresponds to the total return of the securities as represented by the underlying index. The minimum subscription of the fund is Rs 5,000 and above. There is no entrance and exit load for the scheme.

The UTI Nifty200 Quality 30 Index Fund, also launching on Monday, closes on the Sept. 16. The objective of the scheme is to provide returns that, before expenses, corresponds to the NIFTY 200 Quality 30 Total Return Index. There is no entrance or exit load for the fund. The minimum subscription is for Rs 5,000 and above.

Tata Nifty200 Alpha 30 Index Fund that opened for subscription on Aug. 19 will be closing on Monday. Launched under the index fund category, the scheme's minimum subscription is Rs 5,000. The investment objective of the scheme is to provide returns, before expenses, that commensurate with the performance of Nifty200 Alpha 30 Index (TRI).

There is no entry load but an exit load of 0.25% is charged on the applicable NAV, if redeemed on or before 15 days from the date of allotment. Exit load will be charged on redemption (including switch-out) of units.

The WhiteOak Capital Arbitrage Fund which was launched on Aug. 28 will close on Sept. 3. This fund, under the hybrid category, is an open ended scheme investing in arbitrage opportunities. There is no entry load. The exit load of 0.25% is payable if units are redeemed/switched-out within seven days from the date of allotment. The minimum subscription amount is Rs 500 and above.

Union Multi Asset Allocation Fund under the Index Funds category had opened for subscription on Aug. 20. The minimum subscription amount is Rs 1,000. There is a 1% exit load if units are redeemed or switched out on or before completion of 15 days from the date of allotment. The scheme aims to generate long-term capital appreciation by investing in a diversified portfolio of equity and equity related instruments, debt and money market instruments, units of Gold Exchange Traded Funds or Silver ETFs and units of REITs and InvITs, as per the asset allocation pattern of the scheme.

The Bandhan BSE Healthcare Index Fund, launched on Aug. 21 will close on Tuesday. The investment objective of the scheme is to replicate the BSE Healthcare Index by investing in securities of the BSE Healthcare Index in the same proportion or weightage, with an aim to provide returns before expenses that track the total return of BSE Healthcare Index. The fund has a minimum subscription amount of Rs 1,000. There is also an exit load of 0.25% if redeemed on or before 15 days from the allotment date.

Nippon India Nifty 500 Equal Weight Index Fund, launched under the index fund category, will close on Sept. 4. The investment objective of the scheme is to provide investment returns that commensurate to the total returns of the securities as represented by the Nifty 500 Equal Weight Index before expenses. The minimum subscription is Rs 1,000 and there is no entrance or exit load.

The ITI Large & Mid Cap Fund, launched under the mid and large cap category, will also close on Sept. 4. The investment objective of the scheme is to provide investment returns according to the total returns of the securities as represented by the Nifty 500 Equal Weight Index before expenses. The minimum subscription amount is Rs 5,000. There is an exit load of 0.50% if the units are redeemed or switched out on or before completion of three months from the date of allotment.

Baroda BNP Paribas Dividend Yield Fund, under the Dividend Yield Fund category, will close on Sept. 5. The investment objective is to provide medium to long term appreciation by predominantly investing in a well-diversified portfolio of equity and equity related instruments of dividend yielding companies. The minimum subscription amount for the fund is Rs 1,000. There is no entrance or exit load in place.

PGIM India Multi Cap Fund, under the Multi Cap fund category is open till Sept. 5. The investment objective of the scheme is to seek to generate long-term capital appreciation by investing in a portfolio of equity across large cap, mid cap and small cap stocks. The minimum subscription amount for the fund is Rs 5,000 for the initial purchase and Rs 1,000 for additional.

The Axis Consumption Fund, launched under the sectoral and thematic category, is open till Sept. 6. The scheme aims to provide long term capital appreciation from an actively managed portfolio of equity and equity related securities of companies engaged in consumption and consumption related sector or allied sectors. There will be an exit load if units are redeemed or switched-out within 12 months from the date of allotment.

The Kotak CRISIL-IBX AAA Financial Services Index-Sep 2027 Fund will close on Sept. 11. This Index fund has a minimum subscription amount of Rs 100. There is no entry or exit load applicable for the scheme. The investment objective of the scheme is to generate returns that are commensurate (before fees and expenses) with the performance of CRISILIBX AAA Financial Services Index – Sep 2027 which seeks to track the performance of AAA issuers from the financial services sector maturing near target date of the index.