Tata Mutual Fund has launched a new fund named Tata Nifty Private Bank Exchange Traded Fund, an open ended exchange traded fund replicating / tracking Nifty Private Bank Index. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 16 August 2019 to 29 August 2019.
The investment objective of the scheme is to provide returns that is closely correspond to the total returns of the securities as represented by the Nifty Private Bank index, subject to tracking error.
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