Nippon India Flexi-Cap Fund collects Rs 2,860 crore
Nippon India Flexi-Cap Fund has collected Rs 2,860 crore, making its NFO. This is after ICICI Prudential collected around Rs 9,800 crore last month in the fund launched in the same category.
It has reached out to investors across 60 per cent of the total Indian cities during NFO. Over 2,50,000 investors spread across 2,398 cities and 12,625 pin codes invested in the NFO through both digital & offline modes. Over 53,000 SIP applications were also received.
Nippon India Flexi-Cap Fund is an open-ended dynamic equity scheme investing across large-cap, mid-cap, small-cap stocks, allowing investors to participate in opportunities across market-caps. The fund is well-positioned to increase allocation to large-caps during times of uncertainty and at the same time, benefit from the growth potential of mid and small-caps during market uptrends.
Sundeep Sikka, ED & CEO, Nippon India Mutual Fund said, “Under our Investor First philosophy, we continue leveraging our digital properties and more than 50 per cent of our business comes through it. We rededicate ourselves to continually improving processes, robust risk management and tenets of responsible investing”.
Nippon Life India Asset Management has a quarterly average AUM of Rs 2.4 lakh crore at the end of June 2021.