Home / Mutual Funds / News /  Nippon India Taiwan Equity Fund NFO garners over 600 crore

Nippon Life India Asset Management (NAM India), asset manager of Nippon India Mutual Fund (NIMF), launched the Nippon India Taiwan Equity Fund on November 22, 2021. The new fund offer (NFO) garnered 617 crore from 65,500 applications with retail application of 50,720 amounting to 1,81,000 crore and HNI application of 6,044 amounting to 4,08,000 crore.

This fund is advised by Cathay SITE, the largest Asset Manager in Taiwan with $42.8 Bn in AUM. It is also the largest segregated account manager in the Taiwan Equity market for Taiwan public pensions.

The primary investment objective of Nippon India Taiwan Equity Fund is to provide long-term capital appreciation to investors by primarily investing in equity securities listed on the Taiwan Stock Exchange. It will follow a Multi Cap investment strategy with a portfolio comprising of growth and value stocks, as per the fund house.

The NFO that opened for subscription on November 22, 2021, closed close on December 06, 2021. The Benchmark Index of the fund is Taiwan Capitalization Weighted Stock Index (TAIEX). The fund will be managed by Kinjal Desai (Dedicated Fund Manager for Overseas Investments).

Sundeep Sikka, ED and CEO, Nippon India Mutual Fund said “After Hang Seng BeES, Japan Equity and now Taiwan we continue to add value to investors product portfolio by leveraging Nippon Life Insurance global network and working closely with the best asset managers in the world."

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