Mutual Fund round-up: 5 key developments investors should know this week

India's mutual fund industry saw a series of fresh developments this week.

Let's take a look at the key updates.

Edelweiss Mutual Fund files offer document for BSE Top 10 Bank ETF

Edelweiss Mutual Fund has filed an offer document with SEBI to launch an open-ended exchange traded scheme named ‘Edelweiss BSE Top 10 Bank ETF’. Offer for Sale of Units at 1/1000th value of the BSE Top 10 Bank Index as on the date of allotment for applications received during the New Fund Offer (NFO) period. Entry load and Exit load will be nil. The Scheme does not offer any Plans/Options for investment, and seeks to collect a Minimum Target Amount of ₹5 crore.

The performance will be benchmarked by the BSE Top 10 Bank Total Return Index). The minimum application amount during NFO will be ₹5,000 and in multiples of Re 1 thereafter.

The investment objective of the scheme is to generate returns that are in line with the performance of the BSE Top 10 Bank Total Return Index.

Tata Mutual Fund files offer document for Titanium Active Asset Allocator Long-Short Fund

The performance will be benchmarked by 35% BSE 200 TRI + 50% CRISIL Short Term Bond Fund Index + 15% iCOMDEX Composite Index). The minimum application amount during NFO will be ₹10,00,000 and in multiples of ₹1 thereafter.

The investment objective of the scheme is to generate medium to long term capital appreciation by investing across equity, debt, equity and debt derivatives, InVITs and commodity derivatives, including limited short exposure on permitted instruments through derivatives.

ITI Mutual Fund files offer document for Multi Asset Allocation Fund’

The performance will be benchmarked by 50% NIFTY 250TRI + 35% CRISIL Composite Bond Index + 10% Domestic Price of Physical Gold + 5% Domestic Price of Silver. (AMFI Tier-1 benchmark). The minimum application amount during NFO will be ₹5,000 and in multiples of ₹1 thereafter.

The investment objective of the scheme is to seek to generate long-term capital appreciation and income by investing in equity and equity-related securities, debt & money market instruments, Gold/Silver ETFs and Exchange Traded Commodity Derivatives (ETCDs) as permitted by SEBI from time to time.

UTI Asset Management Company announces change in risk-o-meter of schemes

The revised risk-o-meter shall form part of the Application Form / Key Information Memorandum (KIM) and Scheme Information Document (SID) of the aforesaid scheme.

All details of Product Label and other terms and conditions of the Scheme will remain unchanged. This addendum is an integral part of the SID / KIM of the scheme and shall be read in conjunction with the SID / KIM.

SBI MF introduces Crisil - IBX SDL Index - June 2034 Index Fund Indeterminate

The performance of the Scheme will be benchmarked against CRISIL – IBX SDL Index – June 2034 Index and its fund manager is Rajeev Radhakrishnan.

The investment objective of the scheme is to provide returns that closely correspond to the total returns of the securities as represented by the underlying index, subject to tracking error.