Mumbai: It’s raining NFOs in the monsoon. At least 10 new mutual fund schemes are slated for launch this month. This is in addition to the 10 ongoing NFOs that were launched in the past two weeks. From August 5 till 12, new entrant Jio BlackRock Mutual Fund will launch five index‐fund NFOs. The JioBlackRock Nifty 50 Index Fund will track the benchmark Nifty 50 TRI. Other new offerings include the JioBlackRock Midcap 150, JioBlackRock Nifty Next 50, JioBlackRock Nifty Smallcap 250 and a debt scheme JioBlackRock Nifty 8‑13 year G‑Sec Index Fund. All five funds have a minimum investment of Rs 500 so small investors will find it easy to start their investment journey.If your goal is broad market exposure at low fees, the Jio BlackRock index funds could be worthwhile for long‑term investors. Groww Mutual Fund is ready to launch its Groww Nifty Next 50 ETF and Groww Nifty Next 50 index fund on 6 August. These schemes will invest in stocks that constitute the Nifty Next 50 Index in the same proportion as their weightage in the index. The minimum investment is Rs 500.Some other fund houses will also launch new schemes. The Baroda BNP Paribas Gold ETF Fund of Funds issue opens on 4 August. The fund will invest in gold ETFs. The minimum investment is Rs 1,000.Mirae Asset Mutual Fund will launch the Mirae Asset Multi Factor Passive Fund of Funds. The scheme will invest in factor-based domestic equity ETFs which are based on single or multiple strategies like alpha, momentum, low volatility, value, growth, equal weighing and quality etc. Its benchmark is the Nifty 500 TRI. The minimum investment is Rs 5,000.The Edelweiss Multi Asset Omni Fund of Funds issue opens on 12 August. The hybrid scheme will invest in a mix of equity, debt, and gold and silver ETFs. The minimum investment is Rs 100.
