Tata Mutual Fund is launching its new fund named Tata Nifty Private Bank Exchange Traded Fund. It is an exchange-traded fund which will follow the Nifty Private Bank Index. The Tata Nifty Private Bank Exchange Traded Fund will be launched in the NFO (New Fund Offer) from 16th August 2019 to 29th August 2019. Tata mutual fund is sponsored by Tata Sons Limited and Tata Investment Corporation Limited. As on 30th June 2019, the total Asset Under Management (AUM) of Tata Mutual Fund stands at Rs 53,640.70 crore. By clicking this link, you may visit the company’s website for more details.
Tata Nifty Private Bank ETF – NFO Details
| Offer Type | NFO (New Fund Offer) |
|---|---|
| Fund Name | Tata Nifty Private Bank ETF (Exchange Traded Fund) |
| Fund House | Tata Mutual Fund |
| Scheme Type | Open-Ended |
| Scheme Category | ETF or, Exchange-Traded Fund |
| NFO Starts | 16th August 2019 |
| NFO Ends | 29th August 2019 |
| NFO Unit Price | Rs 10 Per Unit |
| Minimum Investment | Rs 5,000 |
| Entry Load | Not Applicable |
| Exit Load | No |
| AMC | Tata Asset Management Limited |
| Fund Manager | Shailesh Jain |
| AMC Address |
1903, B-Wing, Parinee Crescenzo, G-Block, Website: www.tatamutualfund.com |
Tata Mutual Fund NFO – Scheme Features
- This is a mutual fund which is sponsored by Tata Sons Limited (TSL) and Tata Investment Corporation Limited (TICL).
- Earnings of the Fund is exempt from income tax under Section 10(23D) of the Income Tax Act, 1961.
- This is an open-ended Exchange Traded Fund (ETF) which will be tracking Nifty Private Bank Index.
- The investment objective of the scheme is to provide returns that is closely correspond to the total returns of the securities as represented by the Nifty Private Bank index.
- Being an Exchange Traded Fund, the Units of the Scheme will be listed on the NSE and/or any other stock exchange within such time as the Exchange may allow or within such time as the Regulations permit. An investor can buy/sell Units on the Exchange during the trading hours like any other publicly traded stock.
Tata Nifty Private Bank ETF (Exchange Traded Fund) – Investment Pattern
- Equity & Equity Related Instrumentscomprising the Nifty Private Bank Index in the same proportion (weightage) as in the Index and endeavor to track the benchmark index.
- Investment in Money Market Instruments like Commercial Paper, Certificate of Deposit, Treasury Bills and short term debt instruments etc
For more details about the scheme, please refer to this Scheme Information Document (SID).
Disclaimer: This post is just information about the scheme. It does not give any advice or recommendation. Mutual Fund investments are subject to market risk. Please read the offer document carefully before investing.
Tags: #NFO #Mutual Fund #Tata NFO #New Fund Offer #Tata Nifty Private Bank ETF
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