DSP Mutual Fund has announced a New Fund Offer (NFO) for DSP NIFTY Next 50 Index Fund. The NFO period begins on February 11, 2019 and will end on February 15, 2019. This open-ended scheme will reopen for continuous sale and repurchase within five business days from the date of allotment. The index fund will track the NIFTY Next 50 Weight Index with the aim of generating long-term capital growth for its investors.
Asset Allocation of DSP NIFTY Next 50 Index Fund
The DSP NIFTY Next 50 Index Fund will allocate its assets in the following manner:
|Asset Class||Minimum Allocation||Maximum Allocation|
|Equity and equity related securities covered by NIFTY Next 50 Index||95%||100%|
|Debt and money market securities||0%||5%|
The index fund will not invest in American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs), foreign securities, securitized debt, and credit default swaps.
Benchmark of DSP NIFTY Next 50 Index Fund
The DSP NIFTY Next 50 Index Fund will be benchmarked against the NIFTY Next 50 Index (TRI). Returns data of the benchmark index are as follows:
|Index||1 Year Return||5 Year Return|
|NIFTY Next 50 Index (TRI)||-11.85%||18.83%|
(Data as on January 31, 2019; Source: NSE)
Fund Manager of DSP NIFTY Next 50 Index Fund
The DSP NIFTY Next 50 Index Fund will be managed by Ms. Gauri Sekaria. Other schemes currently being managed by Ms. Sekaria are DSP Liquid ETF and DSP Equal NIFTY 50 Fund.
Key information about DSP NIFTY Next 50 Index Fund NFO
|NFO period||February 11, 2019 – February 15, 2019|
|Minimum application amount||Rs. 500 ( for both lump sum and SIP)|
|Benchmark||NIFTY Next 50 Index (TRI)|
|Fund Manager||Gauri Sekaria|
By Deepali Aggarwal | February 11, 2019