The new fund offer or NFO of the scheme will open for subscription on August 28 and close on September 3. The scheme will again open for continuous sale and repurchase not later than within five business days from the date of allotment.
The investment objective of the scheme is to seek to generate returns by investing predominantly in arbitrage opportunities in the cash and derivatives segments of the equity markets and investing the balance in debt and money market instruments.
The scheme will be benchmarked against the NIFTY 50 TRI Arbitrage Index. The scheme will be managed by Ramesh Mantri, Ashish Agrawal and Piyush Baranwal.
For each purchase or exchange of units, a 0.25% exit fee will be charged if units are redeemed or exchanged within seven days from the date of allocation. No exit fee will be charged if units are redeemed or exchanged after seven days from the date of allocation.
The minimum application amount for a lump sum investment will be Rs 500 and in multiples of Rs 1 thereafter. The minimum application amount for weekly, fortnightly and monthly SIP will be Rs 100 (further in multiples of Rs 1) with a minimum of six instalments. The minimum further purchase amount will be Rs 500 and in multiples of Rs 1 thereafter. Under normal circumstances, the scheme will allocate 65-100% in equity and equity-related instruments and equity derivatives, 0-35% in debt securities and money market instruments including margin money used in derivative transactions and 0-10% in units issued by REITs and InVITs. In defensive circumstances, the scheme will allocate 0-65% in equity and equity-related instruments and equity derivatives, 35-100% in debt securities and money market instruments, including margin money used in derivative transactions, and 0-10% in units issued by REITs and InVITs.
The scheme is suitable for investors who are looking to generate short- and medium-term returns and wish to invest primarily in arbitrage opportunities in the cash and derivatives segment of the stock market. The capital invested in the scheme will have a “low” risk as per the scheme’s risk meter.
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