Nippon India Mutual Fund Launches Nippon India Flexi Cap Fund

After the blockbuster closure of new fund offer of ICICI Prudential Flexicap Fund which raised more than Rs 10,000 crore from investors, new fund offer of another flexicap fund – Nippon India Flexi Cap Fund is here to lure investors’ money. Nippon Life India Asset Management company has announced the launch of the NFO which will close on August 9, 2021.

The equity scheme will offer a portfolio comprising of shares of companies of all sizes and aim to create capital appreciation in long term. The fund manager will invest in shares of large, mid and small cap companies based on his view on them and relative attractiveness from time to time. The fund will be managed actively.

The fund will be benchmarked against NIFTY 500 TRI. The minimum investment required is Rs 500 and in multiples of Re 1 thereafter.

Presently the fund will have a bias towards domestic recovery themes with investments across key areas like beneficiaries of consolidation due to technology or regulation, ‘back to normal’ or business normalization, new business models which thrive on disruption, China plus one or import substitution among others.

Manish Gunwani, CIO – Equity Investments, Nippon India Mutual Fund says, “A Flexi Cap strategy can dynamically adapt to varied market scenarios and thus has the potential to outperform across market cycles.”

The fund will be managed by Manish Gunwani, CIO – Equity Investments along with Dhrumil Shah, Varun Goenka & Nikhil Rungta (Co-Fund Manager), Kinjal Desai, Fund Manager – Overseas.

Nippon Life India AMC already has Nippon India Passive Flexicap fund of fund which was launched in December 2020. The fund has an AUM of Rs 60 crore and has given returns of 22.45%.