Nippon India launches Income Plus Arbitrage Omni Fund of Fund
Nippon India Mutual Fund just launched the Nippon India Income Plus Arbitrage Omni Fund of Fund, a new option for anyone looking to mix things up with both debt and arbitrage investments.
The NFO (that's the window to get in early) runs from August 17 to August 31, and the fund is benchmarked against a composite index comprising 60% CRISIL Short Term Bond Index and 40% Nifty 50 Arbitrage Index.
Nippon India debt exposure below 65%
This fund puts almost all your money into other mutual funds focused on debt and arbitrage, the exposure to debt-oriented mutual fund schemes and debt and money market instruments will remain below 65% at all times, which could mean better tax perks if you stay invested for more than 24 months.
Managed by Sushil Hari Prasad Budhia and Vikash Agarwal, it's open to anyone with ₹500 to start (and just ₹100 for top-ups), with no exit load, making it an easy entry point if you're aiming for risk-adjusted returns over a couple of years.