The Sensex and the Nifty 50 rose over 1 per cent each amid largely positive global cues on Monday. The Sensex jumped 1.4 per cent, while the Nifty 50 spiked 316 points, or 1.3 per cent, to reclaim the level of 24,355. On Tuesday, however, the market ended flat. In the past few days, markets have been on an upswing with concerns regarding trade tariffs abating and foreign investors becoming net buyers during the second half of April.
Amid this renewed bull run, mutual fund houses have also announced a number of new fund offers, most of which are passive schemes.
NFOs: 8 fund offers launched this month
Bajaj Finserv Nifty 50 Index Fund: Launched on April 25, this new fund offer will close on May 9. This is an index fund which will track the performance of Nifty50.
DSP Silver ETF Fund of Fund: Launched by DSP Mutual Fund, this scheme falls in the category of fund of funds (domestic). It was launched on April 28 and will close on May 9. It seeks to generate returns which are in line with the performance of physical silver in domestic prices.
Edelweiss BSE Internet Economy Index Fund: Launched by Edelweiss Mutual Fund on April 25, this scheme will close for investors on May 9. This is an index fund which will track the returns of the BSE Internet Economy Total Return Index.
SBI Income Plus Arbitrage Active FOF: Launched by SBI Mutual Fund, this fund offer was opened on April 23 and will close on April 30. The objective of the scheme is to generate regular income and capital appreciation by investing in a blend of units of actively managed debt-oriented schemes and actively managed arbitrage mutual fund schemes.
Groww Gilt Fund: Launched by Groww Mutual Fund on April 23, this new fund offer is a debt scheme (Gilt fund) that will close on May 7. It seeks to generate credit risk-free returns by predominantly investing in sovereign securities issued by the central and state governments.
Motilal Oswal Infrastructure Fund: Launched on April 23, this sectoral/thematic scheme’s offer will close on May 7. The scheme will primarily invest in the stocks of companies that are operating in India’s infrastructure sector.
Nippon India Nifty 500 Low Volatility 50 Index Fund: Launched on April 16, the new fund offer will close on April 30. Investment in this scheme will provide returns commensurate with the total returns of the securities as represented by the Nifty 500 Low Volatility 50 Index.
Nippon India Mutual Fund has also launched another fund offer — the Nifty 500 Quality 50 Index Fund. The offer was launched on April 16 and will close on April 30.
UTI Multi Cap Fund: Launched by UTI Mutual Fund on April 29, this multi cap scheme seeks to generate long-term capital appreciation by investing predominantly in equity and equity-related securities of companies across the market cap. The offer will close on May 13.
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