Bandhan Mutual Fund launches Nifty Next 50 Index Fund

Bandhan Mutual Fund announced the launch of the Bandhan Nifty Next 50 Index Fund, an open-ended scheme tracking the Nifty Next 50 Index, which comprises the 50 companies ranked just beyond the Nifty 50 in India’s top 100 listed stocks.

The scheme will be benchmarked against Nifty Next 50 TRI and managed by Nemish Sheth.

The investment objective is to replicate the Nifty Next 50 Index by investing in securities of the Nifty Next 50 Index in the same proportion/weightage with an aim to provide returns before expenses that track the total return of the Nifty Next 50 Index, subject to tracking errors.

The minimum application amount for lumpsum and additional purchase is Rs 1,000 and in multiples of Re 1 thereafter. For SIP, the minimum amount is Rs 100 and in multiples of Re 1 thereafter with a minimum of six instalments.