DSP Mutual Fund launches DSP NIFTY IT ETF

DSP Mutual Fund has launched DSP Nifty IT ETF, an open ended scheme replicating/tracking Nifty IT Index.

The performance of the scheme will be benchmarked against Nifty IT TRI. The scheme will be managed by Anil Ghelani and Dipesh Shah.

The investment objective of the scheme is to provide returns that, before expenses, correspond to the total return of the underlying index (Nifty IT TRI), subject to tracking errors.

The scheme will invest around 95-100% in equity and equity-related securities of companies constituting Nifty IT Index, the underlying index and 0-5% in cash and cash equivalents.