Religare Mutual Fund on 24 May 2011 launched an open-ended exchange-traded fund, Religare Nifty ETF. The new fund offer will close on 6 June 2011.
The returns generated by the fund will correspond to the returns generated by the stocks represented in the S&P CNX Nifty Index. The fund will follow a passive investment strategy and will invest in companies comprising the S&P Nifty Index in the same weights as in the Index.
The minimum investment amount during the NFO is Rs. 10000 and in multiples of Re 1, thereafter. Post NFO, the units will be listed on the NSE. The performance for the scheme will be benchmarked against S & P CNX Nifty and will be managed by Pranav Gokhale.
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