MUMBAI - Baroda BNP Paribas (OTC:BNPQY) Mutual Fund has announced the launch of a new open-ended scheme, the Baroda BNP Paribas Nifty 50 Index Fund. The fund is designed to mirror the performance of the NIFTY 50 Total Return Index, providing investors an opportunity to invest in the collective performance of the top 50 companies on the National Stock Exchange of India.
Investors looking to participate in the fund can start with an initial investment of Rs 5,000. The fund's objective is to deliver returns that are in line with the NIFTY 50 TR Index, accounting for expenses. To encourage longer-term holding, the fund imposes a nominal exit load of 0.2% for redemptions within one month from the date of allotment.
The New Fund Offer (NFO) for the Baroda BNP Paribas Nifty 50 Index Fund is currently open and will remain available to investors until the subscription window closes on January 22, 2024.
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