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Angel One Asset Management Company has introduced two new fund offerings (NFOs) that will offer investors “comprehensive market exposure” in largecap, midcap, smallcap, and micro-cap stocks, said the fund house.
Angel One Nifty Total Market ETF and Angel One Nifty Total Market Index Fund are open till February 21. Both cover 750 stocks collectively representing 93 per cent of total market capitalisation and belonging to 22 sectors. As passively managed funds, they seek to replicate the performance of the Nifty Total Market Total Return Index (TRI), offering a cost-effective and efficient investment strategy, said the company in a press statement.
The Nifty Total Market Index has historically delivered superior returns compared to the Nifty 50 and Nifty 500 indices across various timeframes.
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In the past year, the index recorded a compound annual growth rate of 12.59 per cent, surpassing the Nifty 50’s 9.52 per cent and the Nifty 500’s 12.30 per cent. Over a ten-year period, it achieved an average return of 13.41 per cent, outperforming the Nifty 50’s 11.73 per cent and the Nifty 500’s 13.15 per cent.
“We are proud to introduce our maiden offering, which is also India’s first Nifty Total Market ETF, bringing passive investment strategies to investors in a simplified, yet powerful manner. Both Angel One Nifty Total Market ETF and Angel One Nifty Total Market Index Fund are a one-stop investment for anyone looking to gain exposure to the Indian equity market,” said Hemen Bhatia, executive director and chief executive officer, Angel One.
More about Angel One Nifty Total Market ETF
Objective: The investment objective of the scheme is to replicate Nifty Total Market Index with an aim to provide returns before expenses that track the total return of Nifty Total Market Index, subject to Tracking Errors. “However, there can be no assurance or guarantee that the investment objective will be achieved,” said the company.
Scheme type: Open ended
Scheme category: Other Scheme - Other ETFs
Exit load: Nil
More about Angel One Nifty Total Market Index Fund
Objective: The investment objective of the scheme is to replicate Nifty Total Market Index with an aim to provide returns before expenses that track the total return of Nifty Total Market Index, subject to tracking errors. There is “no assurance or guarantee” that the objective will be achieved.
Scheme type: Open ended
Scheme category: Other Scheme - Index Funds
Exit load: Nil
Mehul Dama and Kewal Shah will manage both funds.
The NFO is priced at Rs 10 per unit and investors can start with a minimum investment of Rs 1,000, in multiples of Re 1 thereafter.
For the index fund format, systematic investment plan (SIP) options are available in daily, weekly, fortnightly, monthly and quarterly frequencies.
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