Mutual fund update: Mirae Asset, AlphaGrep, Edelweiss launch new NFOs; Baroda BNP Paribas declares IDCW

The fund house has fixed July 8, 2026, as the record date for the distribution, or the immediately following business day if July 8 is not a business day.

The quantum of IDCW has been set at ₹0.06 per unit on the face value of ₹10.

Meanwhile, several fund houses have launched new fund offers (NFOs) across ETF, fund of fund and multi-asset categories.

Mirae Asset Mutual Fund launches ETF and FoF

The fund house has also launched the Mirae Asset BSE Midcap 150 Momentum 30 ETF FoF, an open-ended fund of fund investing in units of the ETF. The NFO remains open from July 6 to July 20, 2026. The scheme has no entry load and an exit load of 0.05% if redeemed within 15 days of allotment, while redemptions after 15 days will not attract any exit load.

AlphaGrep Mutual Fund launches multi-asset allocation fund

AlphaGrep Mutual Fund has launched the Alphagrep Multi Asset Allocation Fund, an open-ended scheme investing across equity, debt, money market instruments, commodity ETFs and exchange-traded commodity derivatives.

The NFO is open from July 6 to July 20, 2026. The scheme requires a minimum investment of Rs 500, carries no entry load, and levies a 1% exit load on redemptions within 15 days of allotment. The fund will be managed by Ravneet Singh.

Edelweiss Mutual Fund launches Nifty Metal ETF

Edelweiss Mutual Fund has launched the Edelweiss Nifty Metal ETF, an open-ended exchange traded fund replicating the Nifty Metal Total Return Index.

The NFO is open for subscription from July 6 to July 20, 2026. The scheme has no entry or exit load and requires a minimum investment of ₹5,000 during the NFO period. The fund managers are Bhavesh Jain and Manasi Jalgaonkar.

The scheme aims to generate returns in line with the performance of the Nifty Metal Total Return Index, subject to tracking error.