Nippon Life India Mutual Fund files offer document for CPSE ETF- FF06

Nippon Life India Mutual Fund has filed offer document with SEBI to launch an open-ended index exchange traded scheme named 'Nippon India CPSE ETF-FF06'. The New Fund Offer price is Rs 10 per unit. Entry load and Exit load will be Nill. The scheme offers growth and dividend options and seeks to collect a Minimum Target Amount of Rs 100 crores.

The performance for schemes will be benchmarked against Nifty CPSE TRI. The minimum application amount for initial purchase is Rs 5000 and in multiples of Re 1 thereafter.

The investment objective of the scheme is to provide returns that, before expenses, closely correspond to the total returns of the Securities as represented by the Nifty CPSE Index, by investing in the Securities which are constituents of the Nifty CPSE Index in the same proportion as in the Index.