Top 6 mutual fund updates on August 28: New NFOs, IDCW payouts and more

Several mutual fund houses announced key developments on August 28, 2026. The updates include two new fund offers opening for subscription, the addition of an investor service centre and IDCW distributions by ICICI Prudential Mutual Fund and HDFC Mutual Fund.

1. Motilal Oswal Mutual Fund launches Quality Fund; NFO opens August 28

Motilal Oswal Mutual Fund has launched Motilal Oswal Quality Fund, an open-ended equity scheme following the Quality Factor Theme. The NFO opens for subscription on August 28, 2026 and closes on September 11, 2026. The Entry Load is not applicable for the scheme.

The Exit Load is 1% if redeemed on or before 90 days from the day of allotment and nil if redeemed after 90 days from the date of allotment. The minimum subscription amount is ₹500 and in multiples of Re 1 thereafter.

The performance of the scheme will be benchmarked against the Nifty 200 Quality 30 Total Return Index and its fund managers are Ankit Agarwal, Varun Sharma, Ajay Khandelwal, Rakesh Shetty and Swapnil Mayekar.

The investment objective of the scheme is to achieve long-term capital appreciation by predominantly investing in equity and equity-related instruments selected using a quality factor-based investment approach.

2. Bank of India Mutual Fund launches Value Fund; NFO opens August 28

Bank of India Mutual Fund has launched Bank of India Value Fund, an open-ended equity scheme following a value investment strategy. The NFO opens for subscription on August 28, 2026 and closes on September 11, 2026. The Entry Load is nil for the scheme.

The Exit Load is: if redeemed or switched out within three months from the date of allotment, 10% of investments will have no exit load and a 1% exit load will apply to the remaining investments. If redeemed or switched out after three months from the date of allotment, the exit load will be nil.

The minimum subscription amount is ₹5,000 and in multiples of ₹1 thereafter.

The performance of the scheme will be benchmarked against the Nifty 500 Total Return Index (TRI) and its fund manager is Nav Bhardwaj.

The investment objective of the scheme is to generate long-term capital appreciation by predominantly investing in equity and equity-related instruments by following a value investment strategy.

3. LIC Mutual Fund adds Investor Service Centre in Udupi

LIC Mutual Fund has informed about the following addition of Investor Service Centre (ISC) and Official Point of Acceptance of KFin Technologies with immediate effect: KFIN Technologies, Suhel Building, 9-3-39C, Near Fish Market, Opp PPC Road, Chitpady, Udupi-576101, Karnataka. 08207966169.

The above ISC will be an Official Point of Acceptance for transactions in the schemes of LIC Mutual Fund.

This Notice-cum-Addendum shall form an integral part of the Scheme Information Document (SID) and Key Information Memorandum (KIM) of the schemes of LIC Mutual Fund, as amended from time to time. All other terms and conditions of the SID and KIM remain unchanged.

4. ICICI Prudential Aggressive Hybrid Fund announces IDCW of ₹0.16 per unit

The record date for the same is September 1, 2026, or the immediately following Business Day, if that day is a Non-Business Day.

The quantum of IDCW on the face value of ₹10 per unit will be ₹0.16 under Monthly IDCW and Direct Plan – Monthly IDCW.

5. ICICI Prudential Arbitrage Fund announces IDCW of ₹0.0500 per unit

The record date for the same is September 1, 2026, or the immediately following Business Day, if that day is a Non-Business Day.

The quantum of IDCW on the face value of ₹10 per unit will be ₹0.0500 under IDCW and Direct Plan – IDCW.

6. HDFC Balanced Advantage Fund announces IDCW of ₹0.250 per unit

The quantum of IDCW on the face value of ₹10.00 per unit will be ₹0.250 under Regular Plan - IDCW Option (Payout and Reinvestment) and Direct Plan - IDCW Option (Payout and Reinvestment).