The New Fund Offer (NFO) is open for subscription and will close on November 12. The scheme will reopen for continuous sale and repurchase within five business days from the date of allotment.
The scheme’s investment objective is to generate returns that correspond to the total returns of the securities represented by the CRISIL-IBX AAA Financial Services Index – Sep 2027, before expenses and subject to tracking errors.
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The scheme will be benchmarked against the CRISIL-IBX AAA Financial Services Index – Sep 2027 and will be managed by Harshil Survankar and Vighnesh Gupta.The minimum amount for lump-sum investment is Rs 1,000, and in multiples of Rs 100 thereafter. The minimum amount for monthly and weekly systematic investment plans (SIPs) is Rs 1,000, and in multiples of Re 1 thereafter.The minimum redemption/switch-out amount is Re 1, and in multiples of Re 1. The minimum amount for additional purchases (including switch-ins) is Rs 1,000, and in multiples of Rs 100 thereafter.
The maximum Total Expense Ratio (TER) permissible under Regulation 52 (6) (c) is up to 1%.
The scheme will allocate 95-100% in instruments that form part of the CRISIL-IBX AAA Financial Services Index – Sep 2027, and 0-5% in debt and money market instruments (including cash and cash equivalents).
The scheme is suitable for investors seeking income over the target maturity period and wanting an open-ended Target Maturity Index Fund that tracks the CRISIL-IBX AAA Financial Services Index – Sep 2027.
The principal invested in the scheme will be subject to “moderate risk,” according to the scheme’s riskometer.
