Zerodha launches BSE SENSEX Index Fund: Should you invest?
What's the story
Zerodha Fund House has launched a new investment scheme, the Zerodha BSE SENSEX Index Fund. The open-ended fund will track the performance of India's top 30 companies listed on the Sensex. The New Fund Offer (NFO) is currently open for subscription and will close on November 3. Unit allotment is scheduled for November 6, followed by reopening for ongoing subscriptions from November 10.
Investment approach
Key details of the fund
The Zerodha BSE SENSEX Index Fund will mainly invest in equities and equity-related securities, mimicking the BSE SENSEX Index composition. However, some tracking errors may occur. The fund is benchmarked against the BSE SENSEX Index TRI and will be managed by Kedarnath Mirajkar. The minimum application amount for this scheme is ₹100.
Vision statement
CEO on significance of BSE SENSEX
Zerodha Fund House, a joint venture between Zerodha Broking and Smallcase Technologies, wants to make capital markets accessible with an emphasis on simplicity, affordability, and transparency. Vishal Jain, CEO of Zerodha Fund House, said that "the BSE SENSEX reflects the performance of India's leading companies across key sectors." He added that this index has witnessed several pivotal moments in history.