Personal Finance News
NFO Alert: Bandhan Mutual Fund launches Bandhan BSE Healthcare Index Fund
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3 min read | Updated on August 22, 2024, 14:04 IST
SUMMARY
Bandhan Mutual Fund introduces the Bandhan BSE Healthcare Index Fund on August 21, 2024. This open-ended fund aims to mirror the BSE Healthcare Index’s performance. With a minimum investment of ₹1,000, it has a 0.25% exit load if redeemed within 15 days. The NFO closes on September 3, 2024.
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The Bandhan BSE Healthcare Index Fund is an open-ended index fund launched by Bandhan Mutual Fund on August 21, 2024. Its objective is to replicate the performance of the BSE Healthcare Index by investing in its constituent securities in the same proportion. The fund aims to provide returns that track the total return of the index, subject to tracking errors. There is no guarantee of achieving this objective, and the fund does not assure any returns. The fund has an exit load of 0.25% if redeemed within 15 days of allotment and no exit load thereafter. The minimum subscription amount is ₹1,000. The new fund offer closes on September 3, 2024.
Objective of Scheme: The investment objective of the Bandhan BSE Healthcare Index Fund is to replicate the BSE Healthcare Index by investing in securities of the BSE Healthcare Index in the same proportion/weightage with an aim to provide returns before expenses that track the total return of BSE Healthcare Index, subject to tracking errors. However, there is no assurance or guarantee that the objectives of the scheme will be realised and the scheme does not assure or guarantee any returns.
Risk-o-meter:
Funds Allocation
| Types of Instruments | Minimum Allocation (% of Net Assets) | Maximum Allocation (% of Net Assets) |
|---|---|---|
| Securities belonging to the Bandhan BSE Healthcare Index (including stock and index derivatives) | 95 | 100 |
| Debt & Money Market | 0 | 5 |
Source: Scheme Information Document
Who should invest in this fund?
This NFO of the Bandhan BSE Healthcare Index Fund is suitable for investors who are seeking to create wealth over the long term and want to invest in equity and equity-related instruments belonging to the BSE Healthcare Index.
Benchmark
The performance of the Bandhan BSE Healthcare Index Fund will be benchmarked to the performance of the Securities belonging to the Bandhan BSE Healthcare Index (including stock and index derivatives).
Peer Fund Schemes
| Scheme Name | AUM (Crore) | Expense Ratio (%) | 1 Year Returns (%) | 3 Year Returns (%) | Since Launch Return (%) |
|---|---|---|---|---|---|
| Edelweiss MSCI India Domestic & World Healthcare 45 Index | 148.43 | 1.04 | 37.01 | 14.49 | 19.12 |
| Tata Nifty MidSmall Healthcare Index Fund | 33.99 | 1.09 | - | - | 16.75 |
Who Manages the Scheme?
Nemish Sheth, Associate Vice President - Equity (AUM (crore) - ₹27,398.27, Schemes – 24)
Nemish Sheth joined the Equity Fund Management team of IDFC AMC on November 01, 2021, as Dealer - Equity and Fund Manager. He was earlier associated with Nippon Life India Asset Management Ltd. as a Dealer from December 2018 to August 2021 handling execution of Equity, Arbitrage and ETF trades. Before this, he was also associated with ICICI Prudential Asset Management Company Ltd. as a Dealer from August 2011 to December 2018 handling execution of Equity, Arbitrage and ETF trades. (Total experience - 12 years)
Conclusion
Investors seeking long-term growth in the healthcare sector may find the Bandhan BSE Healthcare Index Fund appealing. However, returns are not guaranteed, and the fund's performance will track the BSE Healthcare Index.
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