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DSP Mutual Fund introduces DSP Nifty Bank Index fund; know more here!
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3 min read | Updated on May 15, 2024, 18:53 IST
SUMMARY
DSP Mutual Fund launches DSP Nifty Bank Index Fund, an open-ended scheme tracking the Nifty Bank Index. Managed by skilled professionals, it aims to provide returns commensurate with theBanking index's performance. Minimum investment ₹100, no entry/exit load. NFO is open from May 15th to May 27th, 2024.
NFO alert: DSP Mutual Fund Introduces DSP Nifty Bank Index Fund; know more here!
DSP Mutual Fund is launching a new fund, the DSP Nifty Bank Index Fund, which tracks the Nifty Bank Index. This is a new fund offering (NFOs) where we explore the details of the fund including its objective, investment approach, fund manager, and how it compares to similar funds. Let's understand the specifics of this new offering from DSP Mutual Fund.
DSP Nifty Bank Index Fund
The DSP Nifty Bank Index Fund is being launched by DSP Mutual Fund. The DSP Nifty Bank Index Fund is designed to track the performance of the Nifty Bank Index as an open-ended index fund. The fund invests in the 12 banks that are included in the Nifty Bank Index, and which have the greatest liquidity.
There is no entry load, and the exit load is nil. The minimum subscription amount is ₹100 and any amount beyond that one. The new fund offer will remain open from 15th to 27th May 2024.
The investment objective of the DSP Nifty Bank Index Fund is to generate returns that are commensurate with the performance of the Nifty Bank Index, subject to tracking error. There is no assurance that the investment objective of the Scheme will be achieved.
Benchmark
The fund house compares the performance of the DSP Nifty Bank Index Fund to Nifty Bank TRI.
Risk-o-meter:
Funds Allocation
| Types of Instruments | Risk Profile | Minimum Allocation | Maximum Allocation |
|---|---|---|---|
| Equity related to the Nifty Bank Index | Very High | 95% | 100% |
| Cash and Cash Equivalents | Low to Moderate | 0% | 5% |
Peer Schemes
| Scheme Name | Launch Date | AUM (Crore) | Expense Ratio (%) | Returns of Year 2023 |
|---|---|---|---|---|
| Motilal Oswal Nifty Bank Index | 05-09-2019 | 566.96 | 0.99 | 12.17 |
| Navi Nifty Bank Index Fund | 31-01-2022 | 537.19 | 0.80 | 11.97 |
| ICICI Prudential Nifty Bank Index Fund | 02-03-2022 | 398.64 | 0.87 | 12.01 |
| Nippon India Nifty Bank Index | 22-02-2024 | 103.53 | 0.83 | - |
Who should invest in this scheme?
The NFO of DSP Nifty Bank Index Fund will appeal to those looking for long-term capital growth, as well as investment in equity and equity-related securities encompassed by the Nifty Bank Index, with tracking error.
Who Manages the Scheme?
Mr. Anil Ghelani is a skilled fund manager with vast experience, he has been in the industry for over 25 years and is known for his excellent financial skills. Besides having Chartered Accountant (ICAI India) and Chartered Financial Analyst (CFA Institute USA) qualifications, his role has seen him gain considerable experience. He has since controlled several financial products dutifully since earning a B.Com from H.R. College, Mumbai University.
Mr. Diipesh Shah is a well-known figure in the financial world who is 44 years old and has over 22 years of experience in fund management. He has a B.Com., ACA; he is also a Level One Candidate of the CFA Program by the CFA Institute USA. Mr. Shah has had twenty years of experience in finance and thus gained enough skills to guide investment portfolios.
DSP Nifty Bank Index Fund offers investors an opportunity to gain exposure to the banking sector's performance through a well-managed, low-cost index fund. With skilled management and minimal investment requirements, it presents a compelling option for long-term capital growth.
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