While market goes bonkers, these fund houses show courage to launch NFOs. Should you invest?

While benchmark indices, the Nifty50 and the Sensex 30, witnessed a steep fall of around three per cent in a single trading session on Monday, several mutual fund houses, including HDFC Mutual Fund and ICICI Prudential Mutual Fund are set to launch their schemes.

Here, we list out some of the mutual fund schemes that are currently on offer:

I. HDFC NIFTY500 Multicap 50:25:25 Index Fund

HDFC Mutual Fund has launched HDFC NIFTY500 Multicap 50:25:25 Index Fund, an open-ended scheme. It was launched on August 6 and will remain open till August 20.

The minimum subscription amount is ₹100. The indicative allocations (percentage of total assets) of securities covered by the Nifty 500 multi-cap 50:25:25 index range between 95 and 100 per cent, whereas debt securities and money market instruments range between o and 5 per cent. The scheme’s performance will be benchmarked against Nifty500 Multicap 50:25:25 Index.

The fund manager of this scheme is Nirman Morakhia, and Arun Agarwal is the co-fund manager.

II. SBI Innovative Opportunities Fund

Another NFO launched recently was from SBI Mutual Fund namely SBI Innovative Opportunities Fund. This scheme was launched on July 29 and will remain open till August 12.

Investors can invest a minimum of ₹5,000 and in multiples of Re 1 thereafter. It is a sectoral fund. The performance of this scheme will be benchmarked against Nifty 500 TRI.

III. ICICI Prudential Nifty Metal ETF

ICICI Prudential Mutual Fund launched Nifty Metal ETF, which was thrown open to investors for subscription on August 1, and will remain open till August 12.

Investors can invest a minimum of ₹1,000 in this scheme. The scheme’s performance would be benchmarked against Nifty Metal TRI. The mutual fund scheme will be managed by fund managers Priya Shridhar and Nishit Patel.

IV: Kotak Nifty Midcap 50 Index Fund

Kotak Mahindra Mutual Fund launched Kotak Nifty Midcap 50 Index Fund which was opened for subscription on July 25 and will remain open till August 8. Investors can invest a minimum of ₹100 in the scheme.

The scheme will benchmark its performance against Nifty Midcap 50 Index (TRI.) It will be managed by fund managers Devender Singhal, Satish Dondapat and Abhishek Bisen.