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Benchmark MF launches S&P CNX 500 Fund

Benchmark Mutual Fund has launched Benchmark S&P CNX 500 Fund an open-ended Index scheme, aims to generate capital appreciation through equity investments by investing in securities which are constituents of S&P CNX 500 Index in the same proportion as in the index.

Source: Moneycontrol.com

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Benchmark Mutual Fund has launched Benchmark S&P CNX 500 Fund an open-ended Index scheme. The investment objective of the Scheme is to generate capital appreciation through equity investments by investing in securities which are constituents of S&P CNX 500 Index in the same proportion as in the Index. (View - New Fund Offers open NOW)

The new offer period (NFO) will be open for subscription from 17 November to 15 December. The face value of new issue is Rs 10 per unit.

The scheme offers two options viz. growth option and dividend option with Dividend Payout Facility and Dividend Re-investment Facility.

The Minimum investment is Rs10000 and in multiples of Re 1/- thereafter. The minimum amount for the additional purchase will be Rs 1000 and in multiples of Re 1 thereafter. The minimum amount for SIP is Rs1,000/- for each installment and in multiples of Re1/- thereafter and minimum number of installments for SIP will be 12.

The scheme will not levy any entry load. Exit load for investment less than Rs 2 crore if redeemed within 1 year 1.5%, if redeemed after 1 year but within 2 years 1%, if redeemed after 2 years but within 3 years from the date of allotment 0.50%. And for investments of Rs. 2 Crores and more exit load of .050% if redeemed upto 3 months from date of allotment.

The benchmark index for the scheme would be S&P CNX 500 Index.

The scheme will invest 90%-100% in securities constituting S&P CNX 500, derivative on the securities constituting S&P CNX 500 and upto 10% in money market instruments, G-Secs, Bonds Debentures and cash at call.

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