Benchmark MF Files Offer Document

Benchmark Mutual Fund (MF) filed an offer document with SEBI for its Private Sector Bank Benchmark Exchange Traded Scheme (Pvt Bank BeES). The minimum target amount to be raised during the New Fund Offer is Rs 1 crore and the minimum investment is Rs 10,000 and in multiples of Re 1 thereafter.

Private Sector Bank Benchmark Exchange Traded Scheme is an open-ended index fund and will be listed on the exchange in the form of an Exchange Traded Fund (ETF) tracking the Benchmark Private Sector Bank Index (BPSBI). The scheme objective is to provide returns that closely correspond to the total returns of stocks as represented by the benchmark private sector bank index.

The units of the scheme can be bought and sold like any other stock on the National Stock Exchange of India. The unit will be available in dematerialized form. There will be no entry and exit load on the units of the scheme bought or sold through the secondary market on the NSE.