NFO period from February 11 to February 15, 2019
Mumbai, February 5, 2019: DSP Investment Managers Pvt. Ltd. announced the launch of DSP Nifty 50 Index Fund & DSP Nifty Next 50 Index Fund, open ended index funds which seeks to replicate the performance of the Nifty 50 Index and Nifty Next 50 Index respectively. The NFO is scheduled to open on February 11 and close on February 15, 2019.
The Nifty 50 Index tracks the performance of the top 50 companies in India by market cap. The index invests in market leaders from different sectors and represents the economy through time. The Nifty Next 50 Index tracks 51 to 100 stocks ranked by market cap. This index tries to capture companies which may become the mega caps of tomorrow. Both the indices operate in the large cap space as defined by SEBI.
The funds are suitable for first time investors who want to access the equity markets and those who want to meet the market at a low cost. Investors looking for a diversified equity exposure and seasoned investors looking to add a core allocation to their portfolio would also benefit from exposure to these funds. DSP Nifty 50 Index Fund & DSP Nifty Next 50 Index Fund will be managed by Gauri Sekaria.
DSP Investment Managers launched their first fund on the passive platform in 2017, which was a one of its kind offering called the DSP Equal Nifty 50 Fund, a smarter and well diversified version of the Nifty 50 Index. DSP was only the second fund house which offered a solution to investors who have idle cash in between trades in equity shares on the capital markets. This offering was the DSP Liquid ETF.
Announcing the launch of the new funds, Kalpen Parekh, President, DSP Investment Managers said, “We are seeing increasing awareness and demand in the passive space in India which has grown from Rs.9000 crores in 2008 to over Rs.1 lakh crore in August 2018. Investors don’t have to restrict themselves to choosing between active and passive investment strategies. They can benefit by adding funds like Nifty 50 and Nifty Next 50 Index funds as a complementary strategy along with their active exposure for meeting their goals in an effective manner. ”
Anil Ghelani, SVP and Head – Passive Investments, DSP Investment Managers said, “The team at DSP Investment Managers has developed strong knowledge and rich experience in the passive investments space in India. Besides local markets, the team has also developed knowledge both on the product development and fund management side with global best practices.”