Eight new fund offers (NFOs) are currently open for subscription in the market. These are Baroda BNP Paribas Value Fund, ITI Focused Equity Fund, Kotak FMP Series 312, Kotak Nifty 200 Momentum 30 Index Fund, Mirae Asset Silver ETF, NJ ELSS Tax Saver Scheme, UTI Nifty50 Equal Weight Index Fund and UTI S&P BSE Housing Index Fund.

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An NFO is the first-time subscription offer for a new scheme launched by asset management companies (AMCs). They are intended to raise capital for the fund and attract investors.

Here's a look at the NFOs that are currently open:

Baroda BNP Paribas Value Fund

Baroda BNP Paribas Value Fund is an open-ended equity scheme following a value investment strategy. The NFO will close for subscription on May 31, 2023. The fund aims at creating wealth for long-term investors. The fund manager for the same is Shiv Chanani (Senior Fund Manager) who comes with over 21 years of experience, and the performance will be benchmarked against the Nifty 500 Index.

The fund aims to achieve long-term capital growth by investing in a diversified portfolio of companies selected using principles of value investing.

The scheme invests in equity and equity-related instruments (65 percent-100 percent), debt and Money Market instruments (0 percent-35 percent), Units issued by REITs and INvITs (0 percent-10 percent) and units of MF schemes (0 percent-10 percent).

ITI Focused Equity Fund

This is an open ended equity scheme investing in maximum 30 stocks across market capitalisation. The NFO is available till June 12.

The investment objective of the scheme is to seek to generate long term capital appreciation by investing in a concentrated portfolio of equity and equity related instruments of up to 30 companies across market capitalisation. However, there can be no assurance that the investment objective of the scheme would be achieved, the fund house said.

Kotak FMP Series 312

The investment objective of the scheme is to generate income by investing in debt and money market securities, maturing on or before the maturity of the scheme. There is no assurance that the investment objective of the scheme will be achieved, the fund house said.

The NFO will close on May 31, 2023.

Kotak Nifty 200 Momentum 30 Index Fund

This is an open-ended scheme replicating/tracking the Nifty 200 Momentum 30 Index. Nifty 200 Momentum 30 Index aims to track the performance of the top 30 companies within the Nifty 200, selected based on their normalized momentum score, the fund house said.

The new fund offer (NFO) is available for subscription till June 8, 2023.

Mirae Asset Silver Fund

Mirae Asset's Silver ETF is available till June 6, 2023. This is an open-ended scheme replicating/tracking domestic price of silver. The investment objective is to generate returns that are in line with the performance of physical silver in domestic prices, subject to tracking error. During NFO period, Rs 5,000 per application and in multiples of Re 1 thereafter can be invested. Units will be allotted in whole figures and the balance amount will be refunded, the fund house said.

NJ ELSS Tax Saver Scheme

This is an open-ended equity-linked saving scheme (ELSS). The investment objective of the scheme is to generate income and long-term capital appreciation from a diversified portfolio of predominantly equity and equity-related instruments. The minimum subscription amount is Rs 500, in multiples of Rs 500.

UTI Nifty50 Equal Weight Index Fund

The investment objective of the scheme is to provide returns that, before expenses, correspond to the total return of the securities as represented by the underlying index, subject to tracking error.

The NFO is available till June 5, 2023.

UTI S&P BSE Housing Index Fund

The investment objective of the scheme is to provide returns that, before expenses, correspond to the total return of the securities as represented by the underlying index, subject to tracking error. The NFO is available till June 5, 2023.

(Edited by : C H Unnikrishnan)