Nippon India Mutual Fund Launches India's First Taiwan Equity Fund

New Delhi: Nippon India Mutual fund (NIMF) has launched the Nippon India Taiwan Equity Fund which is India's first open-ended equity fund with a Taiwanese emphasis.

The NFO will be available for subscription from November 22 to December 6.

Taiwan's largest assets manager with $42.8 billion in AUM, Cathay Site will advise this fund.

As per the Nippon MF, it is also the largest segregated account manager for Taiwan public pensions in the Taiwan equity market.

The Benchmark Index of the fund is Taiwan Capitalization Weighted Stock Index (TAIEX). The minimum investment required is Rs 500 and in multiples of Re 1 thereafter. Kinjal Desai will manage the fund.

According to a press statement, the primary objective of Nippon India Taiwan Equity Fund is to provide long term capital appreciation to investors by investing primarily in equity securities listed on the Taiwan Stock Exchange.

With a portfolio which includes both growth and values stocks, it will invest in a Multi Cap approach. The fund will concentrating on new technology trends will invest less than 10 percent of its assets in a single stock.

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