Nippon Life India Asset Management (NAM India), the asset manager of Nippon India Mutual Fund (NIMF), launched Nippon India Taiwan Equity Fund on November 22, 2021. New Fund Offer (NFO) has started. 617 crore out of 65,500 applications with retail applications amounting to 50,720 1,81,000 crore and HNI application amounted to 6,044 4,08,000 crores.
The fund is advised by Cathay Site, Taiwan’s largest asset manager, with $42.8 billion in AUM. It is also the largest separate account manager in the Taiwan equity market for Taiwan Public Pensions.
The primary investment objective of Nippon India Taiwan Equity Fund is to provide long-term capital growth 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 of growth and value stocks, according to the fund house.
Open for subscription on November 22, 2021, NFO closes on December 06, 2021. The fund’s benchmark index is the Taiwan Capitalization Weighted Stock Index (TAIEX). The fund will be managed by Kinjal Desai (Dedicated Fund Manager for Overseas Investments).
Sandeep Sikka, ED & CEO, Nippon India Mutual Fund said, “After Hang Seng BES, Japan Equity and now Taiwan, we enhance the product portfolio of investors by leveraging Nippon Life Insurance Global Network and working closely with the best asset managers in the world. continue to add value.”
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