Today, on 20th September 2024, investors have the chance to explore three fresh New Fund Offers (NFOs) from top mutual fund houses: Mirae Asset Mutual Fund, LIC Mutual Fund, and HDFC Mutual Fund. NFOs give investors the chance to invest in a mutual fund at the initial offering price, typically set at Rs 10 per unit. The funds collected during this period are used to invest in various asset classes or sectors, depending on the scheme’s objective. Here’s a detailed look at the new offers opening today.
Mirae Asset Nifty Metal ETF: Focus on Metal Sector
The Mirae Asset Nifty Metal ETF NFO is an open-ended equity scheme that tracks the NIFTY Metal TRI (Total Return Index). Opening today, this scheme aims to generate attractive returns by investing in high-growth companies within the metal sector. It provides an opportunity for investors looking to benefit from the potential growth in the metal industry. The minimum investment required is Rs 5000, and you can invest in multiples of Rs 1 thereafter.
- Issue Open: 20th September 2024
- Issue Closing: 30th September 2024
- Category: Equity Thematic
- Minimum Investment: Rs 5,000
- Exit Load: Nil
- Benchmark: NIFTY Metal TRI
This scheme is particularly suitable for investors seeking exposure to the metal sector, known for its cyclical yet potentially high returns.
LIC MF Manufacturing Fund: Invest in India’s Growing Manufacturing Sector
LIC Mutual Fund has launched the LIC MF Manufacturing Fund, which opens today and will remain open for investment until 4th October 2024. This open-ended equity scheme follows the manufacturing theme, focusing on investing in companies that operate in India’s manufacturing sector. The minimum investment amount for this NFO is Rs 5000.
- Issue Open: 20th September 2024
- Issue Closing: 4th October 2024
- Category: Equity Thematic
- Minimum Investment: Rs 5,000
- Exit Load: 1% on redemption within 90 days
- Benchmark: Nifty India Manufacturing TRI
With the government’s focus on boosting manufacturing under initiatives like ‘Make in India,’ this scheme may appeal to investors looking to capitalize on India’s growing industrial base.
HDFC Nifty LargeMidcap 250 Index Fund: Diversify with Large and Midcap Companies
The HDFC Nifty LargeMidcap 250 Index Fund is also launching its NFO today. This scheme tracks the Nifty LargeMidcap 250 Index, which covers 250 companies spread across large and mid-cap segments. This open-ended equity scheme offers diversification across both large and mid-sized companies, providing a balanced exposure to growth and stability. The minimum investment amount is just Rs 100, making it accessible for small investors as well.
- Issue Open: 20th September 2024
- Issue Closing: 4th October 2024
- Category: Equity Large & Midcap
- Minimum Investment: Rs 100
- Exit Load: Nil
- Benchmark: Nifty LargeMidcap 250 Index TRI
This fund is ideal for investors who want to invest in a wide range of companies with both growth potential and market stability.
Important Reminder: Consider Your Investment Goals
Investors should consider their financial goals and risk tolerance before investing in any mutual fund scheme. Each of these NFOs targets different sectors and indices, making them suitable for different kinds of investors. As always, it’s advisable to consult with a financial advisor before making investment decisions.
(Disclaimer: Stock investments are subject to risks. Always consult with a financial expert before making any investment decisions.)
