Nippon India Mutual Fund changes fundamental attributes of multi-asset fund

Nippon India Mutual Fund has announced the change in fundamental attributes of Nippon India Multi Asset Fund. The fund will now be called Nippon India Multi Asset Allocation Fund.

The changes will be effective from July 14. The fund house informed about the changes to its unitholders through a notice-cum-addendum.

At present, it is an open-ended scheme investing in equity, debt and exchange traded commodity derivatives and Gold ETF. After the changes, it will be an open-ended scheme investing in equity, debt and exchange traded commodity derivatives and Gold ETF & Silver ETF.

The investment objective of the scheme will be to seek long-term capital growth by investing in equity and equity- related securities, debt and money market instruments and Exchange Traded Commodity Derivatives and Gold ETF, Silver ETF as permitted by the Sebi from time to time.

The scheme will invest 50-80% in equity and equity -related securities (including overseas securities /Overseas ETF), 10-35% in debt and money market instruments, and 10-30% in Gold ETF, Silver ETF and Exchange Traded Commodity Derivatives (ETCD).

To achieve the investment objective, the scheme will invest in equity and equity-related instruments, debt and money market instruments, Gold ETF and Silver ETF and Exchange Traded Commodity Derivatives (ETCDs) as permitted by SEBI from time to time. The scheme seeks to provide diversification across equity, debt and commodity asset classes with an aim to provide superior risk adjusted returns.