Nippon India launches Nifty CPSE Bond Plus SDL ETF

By Morningstar |  28-10-20 | 
 

Nippon Life India Asset Management Ltd announced the launch of Nippon India ETF Nifty CPSE Bond Plus SDL – 2024 Maturity.

It is an open-ended Target Maturity Exchange-Traded CPSE Bond Plus SDL Fund predominately investing in constituents of Nifty CPSE Bond Plus SDL Sep 2024 50:50 Index.

AAA rated CPSE bonds and State Development Loans (SDLs) represents Nifty CPSE Bond Plus SDL Sep 2024 50:50 Index. The proportion of investments (CPSE Bonds and SDLs) will be equally divided i.e. 50% in each category at the time of index launch.

The new fund offer opens on November 3, 2020 and closes on  November 9, 2020. The minimum investment required during NFO is Rs 5,000 and in multiples of Re 1 thereafter.

Nippon India ETF Nifty CPSE Bond Plus SDL - 2024 Maturity will follow Nifty CPSE Bond Plus SDL Sep 2024 50:50 Index and has a fixed maturity period. The maturity of the scheme is expected to be no greater than 4 years from the date of inception of the Scheme (Maturity Date).

The scheme endeavors to provide investment returns closely corresponding to the total returns of the securities as represented by the Nifty CPSE Bond Plus SDL Sep 2024 50:50 Index before expenses, subject to tracking errors. It aims to provide an opportunity to invest in AAA-rated CPSE Bonds and SDLs at a low cost.

It provides exposure to a diversified basket of AAA rated CPSE Bonds and State Development Loans.

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