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NFO Alert! Nippon India launches Nifty 1D Rate Liquid ETF; check details
According to the scheme information document, the investment objective of the Nippon India Nifty 1D Rate Liquid ETF - Growth is to seek to provide current income, commensurate with low risk while providing a high level of liquidity through a portfolio of Tri-Party Repo on Government Securities or T-bills/Repo & Reverse Repo as represented by Nifty 1D Rate index before expenses, subject to tracking error. However, there is no assurance that the investment objective of the Scheme will be achieved.
The units of the scheme will be listed on the National Stock Exchange (NSE) for ongoing trading within 5 working days from the date of allotment.
During the NFO, investors can invest a minimum of ₹1,000 and in multiples of ₹1 thereafter. There is no entry or exit load, and there is no lock-in period.
As per the risk-o-meter, the principal invested in the scheme will be at low risk. "Investment in Debt & Money Market Instruments is subject to price, credit, and interest rate risk. The NAV of the Scheme may be affected, inter alia, by changes in the market conditions, interest rates, trading volumes, settlement periods and transfer procedures," the AMC said in the SID.
Vikash Agarwal and Vivek Sharma are the designated fund managers for the scheme. Agarwal is the senior fund manager, and Sharma is the fund manager at Nippon India Mutual Fund.
Nippon India Nifty 1D Rate Liquid ETF: Who should invest?
According to the SID, the scheme is suitable for investors seeking current income with a high degree of liquidity and investment in Tri-Party Repo on Government Securities or T-bills / Repo & Reverse Repo predominantly and money market instruments. However, investors should consult their financial advisors if in doubt about whether the product is suitable for them.
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