Benchmark AMC has launched India's first Fund of Funds (FoF) based on index investing. The Benchmark FoF would invest exclusively in Exchange Traded Funds (ETFs). The IPO for the same is open from May 27 to June 22, 2004. The fund currently offers four plans:
1) Junior BeES Plan - This plan will invest primarily in Junior BeES, which tracks the Nifty Junior Index
2) Nifty BeES Plan - This plan will invest primarily in Nifty BeEs which tracks S&P CNX Nifty
3) Nifty 100 Plan - This plan will invest into Nifty BeES and Junior BeES predominantly, based on the ratio of their market capitalization.
4) Nifty 100 Balance Plan - A blend of Nifty BeES, Junior BeES, and Liquid BeES. The target ratio between equity and cash will be 50:50. It would be the first balance fund based on Nifty 100 index.
With a minimum investment of Rs 10,000, Benchmark's FoF will offer investors the opportunity to choose either growth or dividend options under the FoF. The FoF offers both Systematic Withdrawal Plans (SWPs) and Systematic Investment Plans (SIPs) depending on investor preference.
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