The company claimed that this is one of the biggest amounts raised through a new fund offer (NFO) during the pandemic.
Nippon Life India Asset Management on Tuesday said it has garnered Rs 720 crore through the new fund offer of its Multi-Asset Fund. The company claimed that this is one of the biggest amounts raised through a new fund offer (NFO) during the pandemic.
Over 80,000 investors spread across 370 locations invested in the NFO of Nippon India Multi Asset Fund through both digital and offline mode, the fund house said in a statement.
Besides, the fund house has received 25,000 SIP (systematic investment plan) applications for the NFO.
It, further, said more than 60 percent of the applications came digitally through various digital platforms of the fund house and its partners.
Nippon India Multi Asset Fund allows investors to take exposure to four distinct asset classes - domestic equity, foreign equity, commodities and fixed income.
"We saw tremendous response from family offices and High Networth Individuals (HNIs) as well.
"The Fund had drawn the attention to the importance of investing across asset classes, particularly to foreign equities, as many investors, including HNIs, had negligible investments in assets like overseas equities and commodities," said Aashwin Dugal, Co-Chief Business Officer of Nippon India Mutual Fund.