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Nippon Life India Asset Management (NAM India), asset manager of Nippon India Mutual Fund (NIMF), will launch Nippon India Taiwan Equity Fund on November 22. The fund will be India’s first open-ended equity scheme following a Taiwan-focused theme.
The fund will be advised by Cathay SITE, the largest asset manager in Taiwan with $42.8 billion in assets under management (AUM). It is also the largest segregated account manager in the Taiwan equity market for Taiwan public pensions.
As a backdrop, NIMF and Cathay have also signed a Letter of Intent (LOI) for an exclusive strategic collaboration for jointly/severally developing, managing, advising, marketing, and distributing each other’s investment products in India and Taiwan.
The primary investment objective of Nippon India Taiwan Equity Fund is to provide long-term capital appreciation to investors by primarily investing in equity securities listed on the Taiwan Stock Exchange. It will follow a multi-cap investment strategy with a portfolio comprising growth and value stocks. The fund focus will be on new technology trends and it will hold less than 10 per cent investment in a single stock.
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