Angel One Asset Management Company Ltd, wholly owned subsidiary of Angel One Limited, has launched its maiden new fund offer - Angel One Nifty Total Market Index Fund. The NFO that opened on Monday will close on February 21.
The offer includes two passive investment formats -the Angel One Nifty Total Market Index Fund and the Angel One Nifty Total Market ETF, making it India’s first ETF tracking this index. “Both formats are designed to offer comprehensive market exposure, covering 750 stocks across 22 sectors, including large, mid, small and microcap segments, representing 93 per cent of India’s total market capitalisation,” Angel One said in a statement.
The NFO is priced at ₹10 per unit with no exit load, and investors can start with a minimum investment of ₹1,000, in multiples of ₹1 thereafter.
“This launch introduces India’s first Exchange-Traded Fund (ETF) on the Nifty Total Market Index, alongside an Index Fund, offering investors a unique opportunity to gain diversified exposure,” it said in a statement.
Hemen Bhatia, Executive Director & CEO, Angel One Asset Management Company, said, “Both Angel One Nifty Total Market ETF and Angel One Nifty Total Market Index Fund are a one stop investment for anyone looking to gain exposure to the Indian equity market.”
For the Index Fund format, Systematic Investment Plan (SIP) options are available in daily, weekly, fortnightly, monthly and quarterly frequencies. The fund is offered under both Direct and Regular Plans, with a Growth Option. The fund will be managed by Mehul Dama and Kewal Shah.