Page 15 - Banking Finance August 2023

MUTUAL FUND

Mutual Fund

Navi Mutual Fund laun- "The Scheme enables investors to do- ing (EPS) growth variability analysed
nate part of the income generated to during the previous five years. 30
ches Navi Overnight Fund
the Indian Cancer Society to support companies with higher profitability,
Navi Mutual Fund has announced the the treatment of underprivileged can- lower leverage and more stable earn-
launch of its overnight fund, an open cer patients. The noble mission is to ings are selected to be part of the in-
ended debt scheme that will invest in make a meaningful impact on the lives dex. The stock weight is capped at the
debt and money market securities with of those fighting this formidable battle. lower of 5% or 5 times the weight of
overnight maturity. These securities the stock in the index based on free
Together, as we invest in both financial
would mature the next day and the float market capitalization, the fund
growth and human well-being, we can
fund manager would use these pro- house said.
create a future where hope and heal-
ceeds to buy new securities that ma-
ing become accessible to all," said Chintan Haria, Head Investment Strat-
ture the following day. Overnight funds
Navneet Munot, Managing Director egy, ICICI Prudential AMC, said, "ICICI
are considered one of the safest types
and Chief Executive Officer, HDFC As- Prudential Nifty 200 Quality 30 ETF is
of mutual funds, as they carry very mini-
set Management Company. a smart beta offering based on quality
mal interest rate risk or credit risk.
as a factor. The offering provides inves-
The fund has the lowest expense ratio tors with an opportunity to diversify
ICICI Prudential Mutual
in its category with a Total Expense equity investments across various sec-
Fund launches ICICI Pru-
Ratio of 0.045% under the direct plan. tors and in companies having strong
The minimum investment in the dential Nifty 200 Quality cash flows.
scheme starts at Rs 10.
30 ETF
Bajaj Finserv Flexi Cap
HDFC Mutual Fund ICICI Prudential Mutual Fund has an-
nounced the launch of ICICI Prudential Fund, two other NFOs
launches HDFC Charity
Nifty 200 Quality 30 ETF. The scheme open for subscription
Fund for Cancer Cure aims to provide returns that corre- Three new mutual fund offers or NFOs
spond to the returns provided by Nifty
HDFC mutual fund has launched the opened for subscription in the market.
200 Quality 30 Index, subject to track-
HDFC Charity Fund for Cancer Cure, a Bajaj Finserv Flexi Cap Fund, Kotak
ing errors.
fixed maturity scheme launched in col- Nifty Financial Services Ex-Bank Index
laboration with the Indian Cancer So- The selection universe for this index is Fund, and Mirae Asset Nifty 1D Rate
ciety (ICS) to contribute to the treat- the Nifty 200 Index. The Quality score Liquid ETF are open for subscription.
ment of underprivileged cancer pa- for each company is determined based Bajaj Finserv Flexi Cap Fund is an open-
tients. The scheme will have a tenure on Return on Equity (ROE), financial ended equity scheme investing across
of 1,196 days. leverage (Debt/Equity Ratio) and earn- large cap, mid cap, small cap stocks.

BANKING FINANCE | AUGUST | 2023 | 15