Nippon India Mutual Fund has launched a new Open Ended Growth scheme named "Nippon India Nifty 500 Equal Weight Index Fund" with maturity period of 0 days from the launch date.

The New Fund Offer (NFO) price for the scheme is Rs 10.00 per unit, which will open for subscription from Aug 21 to Sep 04, 2024.

According to the offer document filed with SEBI, the entry and exit load is Nil.

The minimum application amount is Rs 1,000.00 and in multiples of Rs 1 thereafter. The options available under the plan of the scheme are Growth, IDCW, IDCW-Reinvestment.

The fund manager of the scheme will be Himanshu Mange, while the performance of the scheme will be benchmarked against .

The investment objective of the scheme is to provide investment returns that commensurate to the total returns of the securities as represented by the Nifty 500 Equal Weight Index before expenses, subject to tracking errors. However, there is no assurance that the investment objective of the Scheme will be achieved.