Quantum Mutual Fund launches first Nifty 50 ETF Fund of Funds
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Quantum Mutual Fund has launched ‘Quantum Nifty 50 ETF Fund of Fund’, an open-ended fund of funds (FoF) scheme that will invest in Quantum Nifty 50 ETF units. The Quantum Nifty 50 ETF FoF is India's first Nifty 50 ETF Fund of Funds.
The fund, according to the fund house, offers investors the best of both worlds by combining the efficiency of an ETF with the convenience of an index fund. This fund will invest in Quantum Nifty 50 ETF units, a passive strategy from Quantum Solutions with a 14-year track record.
The new fund offer is open from July 18, 2022, to August 1, 2022. The scheme's fund manager will be Hitendra Parekh. Since its inception on July 10, 2008, he has managed Quantum Nifty 50 ETF.
From August 10, 2022, the scheme will be available for subscription and redemption on an ongoing basis. The scheme's investment goal is to provide capital appreciation by investing in Quantum Nifty 50 ETF for replicating/tracking Nifty 50 index units.