NJ Mutual Fund, part of the 27-year-old NJ Group, announced the launch of NJ Overnight and NJ Arbitrage Fund. The new fund offers (NFOs) open for subscription on 29 July, 2022 and close on the same day. The schemes will offer both regular and direct plans.
The minimum investment amount for the respective scheme is Rs. 5000 and in multiples of ₹1 thereafter.
“We have launched an Arbitrage Fund and Overnight Fund today to help investors de-risk their portfolio at times of market stress and also use them as source funds for systematic transfers to higher risk investments. We trust that investors will find these useful and make them a part of their investment journey," said Rajiv Shastri, Director & CEO at NJ Asset Management said.
NJ Asset Management claims to follow a rule-based active investment management style. The fund house currently has one mutual fund scheme called the NJ Balanced Advantage Fund which was launched in October 2021. It currently has an AUM (assets under management) of ₹4,735 crore as of 30 June. In addition to this, the group also manages ₹3,276 crore under its portfolio management services (PMS) offerings
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