Bandhan Mutual Fund Launches Bandhan Nifty Midcap 150 Index Fund
Bandhan Mutual Fund has launched the Bandhan Nifty Midcap 150 Index Fund, an open-ended index fund replicating the Nifty Midcap 150 Index.
Bandhan Mutual Fund has introduced the Bandhan Nifty Midcap 150 Index Fund, an open-ended index fund that replicates the Nifty Midcap 150 Index. Launched on September 3, 2024, this fund aims to provide returns by investing in the constituent stocks of the Nifty Midcap 150 Index. This NFO closes on September 13, 2024.
Investment Objective
The primary objective of the Bandhan Nifty Midcap 150 Index Fund is to replicate the performance of the Nifty Midcap 150 Index. The fund invests in the securities of the Nifty Midcap 150 Index in the same proportion or weightage, targeting returns before expenses that track the index's total return. The scheme does not assure or guarantee any returns.
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Fund Details
The Bandhan Nifty Midcap 150 Index Fund has a minimum subscription amount of Rs 1,000. It is subject to an exit load of 0.25 per cent if redeemed within 15 days of allotment. The fund allocates between 95 per cent and 100 per cent of its net assets to securities belonging to the Nifty Midcap 150 Index, including stock and index derivatives. The remaining allocation, up to 5 per cent, maybe in debt and money market instruments.
Benchmark
The performance of the Bandhan Nifty Midcap 150 Index Fund is benchmarked against the Nifty Midcap 150 TRI.
Suitability for Investors
This fund is suitable for investors seeking to create wealth over the long term by investing in equity and equity-related instruments belonging to the Nifty Midcap 150 Index.
Peer Funds
|
Scheme Name
|
AUM (Crore)
|
TER (%)
|
|
Edelweiss Nifty Midcap150
Momentum 50 Index Fund
|
568.54
|
1.1
|
|
Tata Nifty Midcap 150
Momentum 50 Index Fund
|
505.64
|
1.02
|
|
ABSL Nifty Midcap 150
Index Fund
|
262.3
|
1.01
|
|
Nippon India Nifty Midcap
150 Index
|
1,549.14
|
0.8
|
|
Motilal Oswal Nifty MidCap
150 Index
|
1,878.23
|
1
|
|
SBI Nifty Midcap 150 Index
Fund
|
587.3
|
1.01
|
|
ICICI Pru Nifty Midcap 150
Index Fund
|
539.42
|
0.95
|
Data as of September 6, 2024
Fund Manager
The fund is managed by Nemish Sheth, who has 12 years of experience in equity fund management. He joined Bandhan AMC in November 2021 and has managed a variety of schemes and assets.
Conclusion
The Bandhan Nifty Midcap 150 Index Fund is structured for investors aiming for long-term equity growth aligned with the Nifty Midcap 150 Index. Investors should be aware of potential tracking errors and market risks.
Disclaimer: The article is for informational purposes only and not investment advice.