Friday, June 14, 2024

Nippon India Mutual Fund Garners Rs 2860 Crs

Nippon Life India Asset Management Limited (NAM India), Asset manager of Nippon India Mutual Fund (NIMF), successfully completed the NFO of Nippon India FlexiCap Fund.
 
The Fund has collected Rs. 2860 crores, making itone of the largest NFO in recent times. This is one of the most successful reachout to investors across 60% of total Indian cities during an NFO ensuring that length and the breadth of the country was covered. Over 2.50,000 investors spread across 2398 cities and 12,625 pin codes invested in the NFO through both digital & offline mode.Over 53,000 SIP applications received, reflecting long-term commitment of many investors and distributors for the product.

Sundeep Sikka, ED and CEO, Nippon India Mutual Fund said, “We are truly humbledby the trust shown by more than 2.52 Lakh investors who invested Rs 2860 Cr in the recently concluded NFO of Nippon India FlexiCap Fund.This is in addition to the trust of 15 Lac new investors that have joined Nippon India Mutual Fund in last 15 months; taking the investor count to 75 Lac unique investors # .We would also like to thank our distributors from pan India for helping investors invest across 12625 pin codes though the country.This NFO reflects our strong distribution capabilities, sound digital infrastructure and trust in our brand”.
 
Adding further he said, “Under our Investor First philosophy we continue leveraging our digital properties and more than 50% of our business comes through it.We rededicate ourselves to continually improving processes, robust risk management and tenets of responsible investing”.

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