The start of the new week after the Diwali celebrations saw the launches of four new fund offers (NFOs). These funds have been announced by Aditya Birla Sun Life MF, Mirae Asset, Franklin Templeton and Shriram Mutual Fund.

Here’s a look at some of the key details of these new funds:

Aditya Birla Sun Life Crisil-IBX AAA Financial Services Index-Sep 2027 Fund

Aditya Birla Sun Life Mutual Fund is among the companies that have launched a new index fund. The new fund offer (NFO) will be available for subscription between November 4 and November 12.

The Aditya Birla Sun Life Crisil-IBX AAA Financial Services Index-Sep 2027 Fund is an open-ended index fund that aims to correspond to the total returns of the securities as represented by the CRISIL-IBX AAA Financial Services Index – Sep 2027.

However, investors must note that the returns are subject to tracking errors. There is no assurance that the investment objective of the Scheme will be achieved.

Lump sum investors can begin with a minimum subscription amount of ₹1,000 and in multiples of ₹100 thereafter. The minimum subscription amount for investors who invest via a Systematic Investment Plan (SIP) is ₹1000/ and in multiples of ₹1 thereafter.

According to the offer document, the fund is ideal for investors seeking income over the target maturity period. The scheme is also suitable for investors seeking relatively moderate interest rate risk and relatively low credit risk.

The scheme will offer for purchase or switch-in and redemption or switch-out of units at Net Asset Value (NAV) based prices on every business day on an ongoing basis, not more than five business days from the date of allotment.

Franklin India Arbitrage Fund

Franklin Templeton Mutual Fund’s new fund offer (NFO) opened on November 4 and will close on November 18. The NFO is an arbitrage-focused, open-ended hybrid scheme.

The scheme will re-open on November 21 as per the offer document.

The objective of the scheme is to generate both capital appreciation and income. The scheme aims to achieve its objective by focusing on investments in arbitrage opportunities in the cash and derivative segments of the equity markets.

Additionally, the scheme will also invest in arbitrage opportunities available within the derivative segment and debt and money market instruments. There is no assurance that the investment objective of the scheme will be achieved.

The scheme tracks the returns of the Tier I benchmark – Nifty 50 Arbitrage Index. The minimum subscription amount for the scheme is ₹5,000 and in multiples of ₹1 thereafter. The minimum additional purchase amount for the scheme is ₹1,000 and in multiples of ₹1 thereafter.

The fund is ideal for investors seeking short-term income generation. The exit load charged if the investment is redeemed or switched out within 30 days from the allotment is 0.25%. However, the exit-load will be NIL after the completion of the 30 days.

The redemption proceeds of the scheme will be dispatched to the unitholders within the regulatory time limit of 2 working days of the receipt at the Official Point of Accepting Transactions (OPAT) of the Mutual Fund.

Mirae Asset Nifty 1D Rate Liquid ETF – Growth

Mirae Asset Mutual Fund’s latest NFO the Mirae Asset Nifty 1D Rate Liquid ETF – Growth is open for subscription. The subscription window for the scheme will close on November 6. The scheme is an open-ended listed liquid scheme in the form of an exchange-traded fund.

The scheme is ideal for investors seeking a relatively low interest rate risk and relatively low credit risk investment. The scheme is aimed at providing returns that before expenses correspond to the returns of the Nifty 1D Rate Index. Investors must note that the returns are subject to tracking errors.

The scheme also seeks to provide current income with low risk while providing a high level of liquidity through a portfolio of Treasury Bills Repurchase (TREPS) on Government Securities or Treasury Bills (T-bills) and Repo & Reverse Repo.

There is no assurance that the investment objective of the Scheme will be achieved.

Investors can apply for the NFO by investing a minimum subscription amount of ₹5,000 per application and in multiples of ₹1 thereafter during the NFO period.

The units of the ETF will be listed on the Capital Market Segment of the National Stock Exchange of India Ltd and BSE. All investors can subscribe (buy) and redeem (sell) units of the scheme continuously on the NSE and/ or BSE during trading hours on all the trading days. No Exit load will be levied on redemptions.

Shriram Liquid Fund

Shriram Mutual Fund’s NFO Shriram Liquid Fund is now open for subscription. The four-day subscription window for the open-ended scheme will close on November 8.

The scheme is aimed at generating optimal returns with lower to moderate levels of risk and high liquidity. The scheme intends to do so by investing in debt and money market instruments. The average maturity of the scheme is less than 91 days. Investors must note that there is no assurance that the investment objective of the Scheme will be achieved.

The debt-focused scheme is ideal for investors seeking a relatively low interest rate risk and moderate credit risk investment. Investment in the scheme can be made via a direct plan and a regular plan. However, both plans only offer a growth option.

The minimum subscription amount to subscribe to the scheme during the NFO period is ₹1,000 and in multiples of ₹1 thereafter. Investors can invest ₹1,000 and make additional investments in multiples of ₹1 thereafter on a continuous basis.

The open-ended scheme offers units for subscription and redemption at NAV-based prices on all business days on an ongoing basis, not later than 5 working days from the date of closure of the NFO period.

The exit-load for investors who opt for redemption one day after subscription is 0.0070%. The exit load will decrease by 0.0005% every day till the sixth day. After the sixth day, the exit load levied will be nil.