NFO alert: Bandhan Mutual Fund launches Bandhan Nifty Bank Index Fund

Bandhan Nifty Bank Index Fund is an open-ended index fund offered by Bandhan Mutual Fund. The investment objective of the scheme is to replicate the Nifty Bank Index by investing in securities of the Nifty Bank Index in the same proportion. The new fund launch date is August 8, 2024, and the new fund offer closure date is August 22, 2024. The minimum subscription amount is ₹1000 and there is a load of 0.25% if redeemed on or before 15 days from the allotment date.

Bandhan Nifty Bank Index Fund

The investment objective of the Bandhan Nifty Bank Index Fund is to replicate the Nifty Bank Index by investing in securities of the Nifty Bank Index in the same proportion/weightage to provide returns before expenses that track the total return of the Nifty Bank 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

Who should invest in this fund?

This NFO of Bandhan Nifty Bank Index Fund is suitable for investors who are seeking to create wealth over the long term and want investment in equity and equity-related instruments belonging to the Nifty Bank Index.

Benchmark

The performance of the Bandhan Nifty Bank Index Fund will be benchmarked to the performance of the Nifty Bank Index.

Peer Fund Schemes

Who Manages the Scheme?

Nemish Sheth – Associate Vice President Equity (AUM - ₹24,920.30 crore, Schemes – 24)

Nemish Sheth joined the Equity Fund Management team of Bandhan 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 the 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 the execution of Equity, Arbitrage and ETF trades. Currently, he holds 12 years of experience.

Conclusion

The Bandhan Nifty Bank Index Fund offers investors a chance to track the Nifty Bank Index closely. It provides a low-cost, focused investment in the banking sector.