New Mutual Funds & SIFs Launch: 9 Options This Week

Investors can subscribe to nine new mutual funds and two Systematic Investment Funds (SIFs) opening this week. Seven of these mutual funds and both SIFs are available starting August 10.

Fund houses are launching these new schemes to broaden and complete their existing product portfolios. This offers more diverse options for investors looking to expand their holdings.

Aditya Birla Sun Life’s SIFs

Aditya Birla Sun Life MF is introducing two SIFs this week. These are the Apex Equity Long-Short Fund and the Apex Equity Ex-Top 100 Long-Short Fund.

Both funds open on August 10 and close on August 24. Each requires a minimum application of Rs 10 lakh to subscribe.

Three Exchange Traded Funds Incoming

Three Exchange Traded Funds (ETFs) are also set to launch. The UTI Nifty 500 ETF will be open from August 10 to August 24.

The DSP Nifty 10 yr Benchmark G-Sec ETF and the Mirae Asset BSE LargeMid (60:40) Stable Dividend 50 ETF both open on August 10. They will close for subscription on August 12.

Each of these ETFs has a minimum investment requirement of Rs 5,000.

Other Funds to Consider

The Zerodha Arbitrage Fund opens on August 12 and closes on August 14. Its direct plan requires a minimum investment of Rs 5,000.

The SBI Balanced Hybrid Fund will accept subscriptions from August 10 to August 24, also with a minimum investment of Rs 5,000.

Two more funds, the UTI Nifty 500 Index Fund and the Bandhan Contra Fund, open on August 10 and close on August 24. Both require a minimum investment of Rs 1,000.

The WOC Dividend Yield Fund, with a minimum of Rs 500, will be available from August 10 to August 24. Lastly, the ASK Liquid Fund opens on August 12 and closes on August 25, also requiring a minimum investment of Rs 500.