Tata Asset Management if going to launch Tata India Innovation Fund, which aims to provide investors with the opportunity for long-term capital appreciation by investing in companies that are actively adopting innovative strategies and themes across various sectors. The NFO is set to open for investment on November 11, 2024, and will close on November 25, 2024.
According to the management, Tata India Innovation Fund will target companies which will be endeavouring for transformation and innovation through R&D and cutting-edge technology for the future like AI or artificial intelligence, digital technology and machine learning. Tata Asset Management was established in 1994 and is a subsidiary of Tata Sons.
How will it select stocks, min application, exit load
Tata India Innovation Fund have a bottom-up method of picking stocks to invest. “A blend of valuation stability and growth opportunities,” will be what it will be looking for. It will seek to provide long-term capital growth. The offer document states that 1% Exit Load will be applicable if an investor redeems units within 90 days from the day of allotment.
The broad index of Nifty 500 will be the benchmark index for this fund which is an open-ended scheme with innovation as the theme. The minimum application amount for Tata India Innovation Fund is Rs 5,000. Additional amount can be in multiples of Re 1.
The power of India’s digital public infrastructure
“India’s financial services industry has harnessed Digital Public Infrastructure to usher the country into a new digital era, significantly expanding financial inclusion nationwide. In line with the global climate action standards, India’s electric vehicle (EV) sector, battery technology, and renewable energy segments are witnessing considerable investment and growth momentum. At the same time, substantial R&D investments in the pharmaceutical and healthcare sectors are positioning India as a global hub for research and manufacturing,” Tata Asset Management wrote in a note.
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The Tata India Innovation Fund NFO opens on Monday, November 11 and closes on November 25, 2024 during which one can buy a unit for Rs 10. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
