Invest in Indias Top Banks with Baroda BNP Paribas NIFTY Bank ETF
Jun 03, 2024
Baroda BNP Paribas Mutual Fund has launched Baroda BNP Paribas NIFTY Bank ETF
Baroda BNP Paribas Fund is an open-ended scheme replicating / tracking the Nifty Bank Total Returns Index
The investment objective of the scheme is to provide investment returns closely corresponding to the total returns of the securities as represented by the Nifty Bank Total Returns Index before expenses, subject to tracking errors, fees and expenses. However, there is no assurance that the objective of the Scheme will be realized, and the Scheme does not assure or guarantee any returns.
Under normal circumstances, Baroda BNP Paribas NIFTY Bank ETF will hold an allocation of 95% to 100% in Equity and Equity related securities of companies constituting Nifty Bank Index, 0% to 5% in Money Market Instruments & Units of Liquid scheme & Cash & Cash equivalents.
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Baroda BNP Paribas NIFTY Bank ETF will be passively managed employing an investment strategy that seeks to track/replicate the performance of the underlying index, subject to tracking error.
The scheme seeks to achieve this goal by investing in the securities constituting the Nifty Bank Total Returns Index in the same proportion as in the Index.
The Scheme may take an exposure to equity derivatives of constituents of the underlying Basket when securities of the Basket are unavailable, insufficient or for rebalancing at the time of change in Basket or in case of corporate actions, for a short period of time, subject to derivative limits. Such exposure to derivatives will be rebalanced within seven calendar days.
Baroda BNP Paribas NIFTY Bank ETF is benchmarked against Nifty Bank Total Returns Index
Baroda BNP Paribas NIFTY Bank ETF will be managed by Mr Neeraj Saxena
Baroda BNP Paribas NIFTY Bank ETF is open for subscription from May 31, 2024 to June 14, 2024. The fund will reopen for continuous sale and repurchase within 5 business days from the date of allotment.
Currently, there are no investment Plans/Options being offered under the Scheme.
The minimum subscription amount is Rs 5,000/- and in multiples of Re. 1 thereafter.