IDFC Mutual Fund has launched the IDFC Nifty ETF, an open ended growth scheme. The NFO opens for subscription on September 07, 2016 and closes on September 30, 2016. No entry load and exit load will be applicable for the scheme. The minimum subscription amount is Rs 5000 and in multiples of Re 1.
The scheme's performance will be benchmarked against Nifty 50 and its fund manager is Yogik Pitti.
The investment objective of the scheme is to provide returns that, before expenses, closely correspond to the total return of the underlying index, subject to tracking errors.