Tata Mutual Fund has expanded its passive fund offerings with the launch of six index funds in one go on April 8.
The new index funds are Tata Nifty Auto Index Fund, Tata Nifty Realty Index Fund, Tata Nifty Financial Services Index Fund, Tata Nifty MidSmall Healthcare Index Fund, Tata Nifty500 Multicap India Manufacturing 50:30:20 Index Fund and Tata Nifty500 Multicap Infrastructure 50:30:20 Index Fund.
The new fund offers (NFO) for these schemes will be open from April 8 to April 22. The minimum investment during the NFO period is Rs 5,000.
Among the six schemes, three are industry firsts: Tata Nifty MidSmall Healthcare Index Fund, Tata Nifty500 Multicap India Manufacturing 50:30:20 Index Fund and Tata Nifty500 Multicap Infrastructure 50:30:20 Index Fund. The fund house has co-created the benchmarks with Nifty Indices, an index provider and subsidiary of the National Stock Exchange of India.
