Mutual Fund investment: These new funds will open for subscription in November

Mutual fund investors have a busy month ahead, with five new fund offers (NFOs) opening in November across diverse investment categories. Several asset management companies are set to launch their latest schemes, giving retail investors fresh options to diversify their portfolios.

Axis Income Plus Arbitrage Passive FOF

This is a Fund of Funds (FoF) scheme from Axis Mutual Fund that invests in a mix of passive debt-oriented mutual funds/ETFs and arbitrage funds to deliver stable, debt-like returns with equity-like tax efficiency.

Axis Mutual Fund launched this scheme on 28 October and will close on 11 November.

Kotak Nifty Chemicals ETF

Kotak Nifty Chemicals ETF is an open-ended scheme tracking the Nifty Chemicals Index. The investment objective of the scheme is to replicate the composition of the Nifty Chemicals Index and to generate returns that correspond with the performance of the Nifty Chemicals Index, subject to tracking errors. This scheme was launched on 23 October and will end on 6 November.

Groww Mutual Fund has announced the launch of two passive schemes based on the Nifty Midcap 150 Index: Groww Nifty Midcap 150 ETF and Groww Nifty Midcap 150 Index Fund.

The new fund offer (NFO) for both schemes is open for subscription and will close on November 11.

The Zerodha BSE SENSEX Index Fund offers a simple way to invest in India's first and oldest stock market index, the BSE SENSEX index. Zerodha Mutual Fund launched this scheme on 20 October and will close on 3 November.

Under the proposed framework, the market regulator plans to eliminate the additional 5 basis points (bps) that asset management companies (AMCs) were previously allowed to charge across mutual fund schemes.