Bandhan Mutual Fund files draft document for Nifty 500 Value 50 Index Fund
Bandhan Mutual Fund has filed a draft document with Sebi for Nifty 500 Value 50 Index Fund. Bandhan Nifty 500 Value 50 Index Fund will be an open-ended scheme tracking Nifty 500 Value 50 Index.
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/redemption 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 instalments.
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%.
