August 5, 2023
mayank
Nippon India Innovation Fund NFO, Fund details, Fund Portfolio, Fund Returns, Peer Comparison, Mutual Fund Guidance @chanakyamfguidance
NFO opens on August 09, 2023
NFO will close on August 23, 2023
(Our detailed Guidance is given at the bottom of the Page)
Investment Strategy of Nippon India Innovation Fund NFO
The scheme seeks to provide long term capital appreciation to investors by primarily investing in equity and equity related securities of companies seeking to benefit from innovation i.e companies that invest in l innovation, research and development, new product development or new platforms to enhance their business and gain share in their respective sectors.
Basic Details
| Fund House | Nippon India Mutual Fund |
| Issue Open | 09 August 2023 |
| Issue Close | 23 August 2023 |
| Type | Open-ended |
| Category | Equity: Thematic |
| Min. Investment(₹) | 500 |
| Plans | Growth, IDCW |
| Lock-in Period | NA |
| Exit Load | 0 |
| Riskometer | Very High |
| Benchmark | NIFTY 500 TRI |
Benchmark Index of Nippon India Innovation Fund NFO
The Nifty 500 index represents top 500 companies selected based on full market capitalization from the eligible universe.
Nifty 500 Index is computed using free float market capitalization method, wherein the level of the index reflects the total free float market value of all the stocks in the index relative to particular base period. Nifty 500 can be used for a variety of purposes such as benchmarking fund portfolios, launching of index funds, ETFs and structured products.
Index Variants: Nifty 500 Total Returns Index, Nifty500 Industry Indices.
Past Performance of Benchmark Index
| Index Returns (%) | QTD | YTD | 1 Year | 5 Years | Since Inception |
| Price Return | 3.83 | 10.42 | 16.32 | 12.07 | 10.43 |
| Total Return | 3.93 | 11.04 | 17.35 | 13.30 | 12.16 |
| Statistics ## | 1 Year | 5 Years | Since Inception |
| Std. Deviation * | 11.17 | 18.68 | 22.61 |
| Beta (NIFTY 50) | 0.95 | 0.95 | 0.93 |
| Correlation (NIFTY 50) | 0.97 | 0.99 | 0.95 |
Fundamentals
| P/E | P/B | Dividend Yield |
| 24.24 | 4.52 | 1.25 |
Top constituents by weightage
| Company’s Name | Weight(%) |
| HDFC Bank Ltd. | 9.18 |
| Reliance Industries Ltd. | 6.43 |
| ICICI Bank Ltd. | 5.21 |
| Infosys Ltd. | 3.61 |
| ITC Ltd. | 3.06 |
| Tata Consultancy Services Ltd. | 2.61 |
| Larsen & Toubro Ltd. | 2.42 |
| Kotak Mahindra Bank Ltd. | 2.03 |
| Axis Bank Ltd. | 1.95 |
| State Bank of India | 1.77 |
Fund Manager of Nippon India Innovation Fund NFO
1) Vinay Sharma
Education: Mr. Sharma is B.Arch & PGDCM
Experience: Prior to joining Nippon India Mutual Fund he has worked with ICICI Prudential AMC, Kotak Mahindra Mutual Fund, J.P. Morgan India Pvt. Ltd. and UTI Bank.
Past Performance of his Schemes
| Fund | Nippon India Focused Equity Fund | It’s Benchmark |
| 1 Year | 12.01 | 14.50 |
| 3 Year | 28.48 | 24.56 |
| 5 Year | 13.27 | 13.20 |
| 7 Year | 13.59 | 14.34 |
| 10 Year | 20.32 | 16.04 |
Registrar & Transfer Agent of Nippon India Innovation Fund NFO
KFin Technologies Ltd.
Address: 303, Vamsee Estates, Opp. Big Bazaar, Ameerpet, Hyderabad – 500016
Website: www.karvymfs.com
Guidance for Nippon India Innovation Fund NFO by Paresh Gordhandas, C.A., Research Analyst.
The Nippon India Innovation Fund is based on the Nifty 500 index which represents the top 500 companies selected based on full market capitalization from the eligible universe.
This fund can be directly compared to the ICICI Prudential Innovation Fund launched in April 2023. This fund has given return of 15.10% since its launch.
While the investment strategy says that the funds seeks to invest in companies seeking to benefit from innovation i.e companies that invest in innovation, R&D, new product development or new platforms, if you see the portfolio, it is all standard companies like ICICI Bank, RIL, L&T, Maruti, Sun Pharma etc.
Hence, this is simply an attempt by fund houses to sell old wine in a new bottle.
Nevertheless, since the fund comprises of fundamentally sound companies, it is a good option for investment if you want to diversify your mutual fund portfolio.
While analyzing a fund/NFO the stock picking skills of the Fund Manager also need to be taken into consideration. We have done a sample comparison of the fund managed by the Fund Managers(FM). You can refer the table above for the same. If you take a look, you will notice that his performance is reasonably good.
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