Nippon India MF mobilises Rs 2,860-crore via flexi cap fund
The scheme is an open-ended dynamic equity scheme that allows investors to participate in opportunities across market caps
Nippon India Mutual Fund on Friday said it has collected Rs 2,860 crore through the new fund offer (NFO) of its Flexi cap fund. Over 2.5 lakh investors spread across 2,398 cities invested in the NFO through both digital and offline mode, the company said in a statement.
Further, more than 53,000 SIP (systematic investment plan) applications were received, reflecting long-term commitment of many investors and distributors for the product.
The scheme– Nippon India Flexi Cap Fund– is an open-ended dynamic equity scheme investing across large-cap, mid-cap, small-cap stocks that allow investors to participate in opportunities across market caps.
The company said that the fund is well-positioned to increase allocation to large caps during times of uncertainty and at the same time benefit from the growth potential of mid and small caps curing market uptrends.
“We are truly humbled by the trust shown by more than 2.52 lakh investors who invested Rs 2,860 crore in the recently concluded NFO of Nippon India Flexi Cap Fund,” Sundeep Sikka, ED, and Chief Executive Officer, Nippon India Mutual Fund said.