The investment objective of the scheme will be to replicate the Nifty 500 Value 50 Index by investing in securities of the Nifty 500 Value 50 Index in the same proportion/weightage with an aim to provide returns before expenses that track the total return of Nifty 500 Value 50 Index, subject to tracking errors.
The scheme will offer regular and direct plans both with only growth option.
The minimum application amount for lumpsum investment will be Rs 1,000 and in multiples of Re 1 thereafter. The minimum amount for additional purchase will be Rs 1,000 and in multiples of Re 1 thereafter. The minimum amount for SWP will be Rs 200 and any amount thereafter. The minimum amount for repurchase/redmption will be Rs 500 or the account balance of the investor, whichever is less.
The minimum application amount for SIP will be Rs 100 and in multiples of Re 1 thereafter with minimum six installments.
An exit load of 0.25% will be applicable if redeemed on or before 15 days from the allotment date. Nil exit load if redeemed after 15 days from the allotment date. The maximum total expense ratio (TER) permissible under Regulation 52 (6) (b) will be up to 1%.The scheme will be benchmarked against Nifty 500 Value 50 Index. The scheme will be managed by Nemish Sheth.The scheme will invest 95-100% in securities belonging to Nifty 500 value 50 Index (including stock and index derivatives), 0-5% in debt and money market instruments.
The scheme will be managed passively with investments in stocks in proportion to the weights of these stocks in the Nifty 500 Value 50 Index. The investment strategy would revolve around reducing the tracking error to the least possible through rebalancing the portfolio, considering the change in weights of stocks in the index as well as the incremental collections/redemptions from the scheme.
The scheme will be suitable for investors who are seeking to create wealth over a long-term, and want investment in equity and equity related instruments belonging to Nifty 500 value 50 Index.
The principal invested in the scheme will be at “very high” risk according to the riskometer of the scheme.
