The mutual fund industry in India has grown remarkably over the years. The industry’s AUM first reached the milestone of ₹10 trillion (₹10 Lakh Crore) in May 2014. Within a relatively short three-year period, the AUM size has more than doubled, reaching ₹20 trillion (₹20 Lakh Crore) for the first time in August 2017. For the first time, in November 2020, the AUM size surpassed ₹ 30 trillion, or ₹30 Lakh Crore. On July 31, 2024, the Industry AUM was valued at ₹64.97 Trillion, or ₹64.97 Lakh Crore. Let us now have a look at a few of the schemes opened in August 2024:
Aditya Birla Sun Life Nifty India Defence Index Fund is an open-ended scheme in the index funds category. The investment objective is to provide returns that, before expenses, correspond to the total returns of securities as represented by the Nifty India Defence Total Return Index, subject to tracking errors. The scheme was opened on August 09, 2024 and will close on August 23, 2024. The scheme has a minimum investment of ₹500.
Bandhan Mutual Fund has launched a new open-ended index fund scheme with the name Bandhan Nifty Bank Index Fund. The investment objective of the Scheme is to replicate the Nifty Bank Index by investing in securities of the Nifty Bank Index in the same proportion/weightage with an aim to provide returns before expenses that track the total return of the Nifty Bank Index, subject to tracking errors. However, there is no assurance or guarantee that the objectives of the scheme will be realised and the scheme does not assure or guarantee any returns. The scheme was opened on August 08, 2024, and will close on August 22, 2024, with a minimum investment amount of ₹1,000.
DSP Mutual Fund launched the DSP Nifty Top 10 Equal Weight ETF on August 16, 2024. The scheme will close on August 30, 2024, and requires a minimum investment of ₹5,000. The Scheme seeks to provide returns that, before expenses, correspond to the total return of the underlying index (Nifty Top 10 Equal Weight TRI), subject to tracking errors. There is no assurance that the scheme’s investment objective will be achieved.
DSP Nifty Top 10 Equal Weight Index Fund is an open-ended index fund opened on August 16, 2024, and has been scheduled to close on August 30, 2024. The investment objective of the Scheme is to generate returns that are commensurate with the performance of the Nifty Top 10 Equal Weight Index, subject to tracking error. There is no assurance that the investment objective of the Scheme will be achieved.
Franklin India Ultra Short Duration Fund is an open-ended Debt Scheme – Ultra Short Duration Fund, opened on August 19, 2024 and will close on August 28, 2024. The scheme has been launched to provide a combination of regular income and high liquidity by investing primarily in a mix of short-term debt and money market instruments. However, there is no assurance that the investment objective of the Scheme will be achieved.
The Mirae Asset Nifty500 Multicap 50:25:25 ETF opened for subscription on August 12, 2024, and will close on August 26, 2024. The scheme’s investment objective is to generate returns, before expenses, that are commensurate with the performance of the Nifty500 Multicap 50:25:25 Total Return Index, subject to tracking error. The Scheme does not guarantee or assure any returns.
Motilal Oswal Business Cycle Fund, launched by Motilal Oswal Mutual Fund, is an open-ended equity scheme—sectoral/ thematic. It opened on August 07, 2024, and will close on August 21, 2024. The investment objective of the scheme is to achieve long-term capital appreciation by predominantly investing in equity and equity-related instruments of companies by investing with a focus on riding business cycles through allocation between sectors and stocks at different stages of business cycles. However, there can be no assurance that the investment objective of the scheme will be realised.
Motilal Oswal Mutual Fund launched Motilal Oswal Nifty India Defence ETF, an open-ended scheme that opened on August 19, 2024, and will close on August 21, 2024. The investment objective of the scheme is to provide returns that, before expenses, closely correspond to the total returns of the securities as represented by the Nifty India Defence Total Return Index, subject to tracking error.
Tata Nifty200 Alpha 30 Index Fund is an open-ended index fund scheme launched by Tata Mutual Fund on August 19, 2024. The investment objective of the scheme is to provide returns, before expenses, that are commensurate with the performance of the Nifty200 Alpha 30 Index (TRI), subject to tracking error. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved. The scheme does not assure or guarantee any returns.
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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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