Nippon India Vision Fund(G)

Some of the significant features of Nippon India Vision Fund are as indicated in the table below:

Investment Amount for Nippon India Vision Fund

The investment amount limitations as set by the company are given below:

Asset Allocation for Nippon India Vision Fund

Who can Invest in Nippon India Vision Fund?

The following entities are eligible to subscribe to this scheme (subject to statutory regulations):

1. Resident adult individuals - either singly or jointly (not more than three)
2. Minors - with the help of a parent or guardian - singly
3. Members of the Hindu Undivided Family (HUF) by means of the Karta
4. Partnership firms
5. Corporate entities, companies, Public Sector Undertakings (PSUs), a consortium of individuals and societies that have been registered under the Societies Registration Act, 1860
6. Financial entities and banks
7. Mutual funds that have been registered under SEBI
8. Religious establishments and charitable trusts, private trust endowments, and private trusts that have been permitted to make investments in mutual fund schemes under their deeds
9. Non-resident Indians (NRIs), Persons of Indian Origin (POI) living outside the country either on non-repatriation or repatriation basis
10. Foreign Institutional Investors (FIIs) who have been registered under SEBI on a repatriation basis
11. Paramilitary units, officials of the navy, army, air force and entities formed by such institutions
12. Industrial and scientific research organisations
13. Multilateral funding agencies, Reserve Bank of India, and entities formed outside India with the permission of the Indian Government
14. Nippon India Mutual Fund (RMF) schemes that are included under other heads, as per the regulations specified by SEBI
15. Sponsor, trustee, AMC, and their associates can choose to subscribe to this scheme
16. Foreign investor with authentic credentials and qualifications
17. Foreign portfolio investors (FPIs) as specified by SEBI
18. Other entities, corporations, or individuals that AMC may decide from time to time, with conformity to SEBI regulations

NAV Disclosure and Benchmark for Nippon India Vision Fund

According to the Regulation 48(2) of the SEBI Mutual Funds Regulation 1996, the Net Asset Value of the scheme will be required to be computed and published in two daily newspapers on a regular basis. The fund house will henceforth be responsible for the declaration of the NAV of the scheme on each business day on the AMFI's website www.amfiindia.com. In case the NAV disclosure does not materialise at the beginning of a business day, the Fund house will thereafter be required to issue a press release stating the reasons and providing a timeframe within which the NAV of the scheme will be published.

NAV Computation

The Units' NAV is determined according to the regulations and formula as provided by SEBI. The formula for NAV computation has been given below:

NAV = (Market value of the scheme's investments + receivables + accrued income + any other assets - accrued expenses - payables - other liabilities)/total number of outstanding units

Liquidity: Unitholders can choose to either redeem, switch-in or switch-out units on each working day on a regular basis. According to regulations specified by SEBI, redemption of units can be commenced within a period of ten days of receiving a redemption request.

Benchmark Index: The benchmark for the scheme - Nippon India Vision Fund is S&P BSE 250 LargeMidcap. S&P BSE 250 Large Midcap Index essentially encompasses large and midcap space companies. Therefore, this benchmark is considered to be an appropriate one for Nippon India Vision Fund as it will have its primary investment in large and midcap stocks.

Fund Manager for Nippon India Vision Fund

The senior fund manager for this scheme is Mr. Ashvin Kumar and he has been handling operations in the scheme since 2003. Mr. Ashwin holds an MBA degree in finance and also has a vast experience in the capital markets.

The fund manager for this scheme who handles overseas investments is Ms. Jahnvee Shah. She holds an MBA degree in finance and has vast experience and knowledge about overseas investments.

Investment Restrictions of Nippon India Vision Fund Scheme

There are certain limitations placed on the scheme. They are mentioned below:

1. The scheme will not make an investment which is more than 10% of its Net Value Asset (NAV) in debt instruments that consist of non-money market and money market instruments issued by a single issuer. The limit of such investment may be extended to 12%, however, prior approvals from the Board of Trustees and the Board of directors will be required.
2. The scheme will not make an investment which is more than 10% of its NAV in debt instruments that are not rated (unrated debt instruments) issued by a single issuer. The total investment made in such instruments must not transcend 25% of the total NAV of the scheme. An approval and permission from the Board of Trustees and the Board of directors of the asset management company will be required herein.
3. AMCs and mutual funds will be required to make sure that the total exposure of debt schemes in group mutual funds does not surpass 20% of the total net assets of the scheme. With an approval from Board of Trustees and the Board of directors, this limit may further be extended to 25%.
4. The mutual fund under all the schemes calculated together must not own more than 10% of any company's capital carrying voting rights.
5. Investment transfer in Nippon India Vision Fund is allowed, however, there are certain limitations to this rule. The transfer from one scheme to another will be authorised if:
   1. These transfers materialise at an ongoing market price for instruments that are quoted on a spot basis.
   2. The transferred securities must be in accordance with the investment objective and the policies of the said scheme.
6. The scheme is authorised to make investments in multiple other schemes under the very same asset management company or in a separate mutual fund without having to pay any additional fee, provided the inter scheme investments aggregate does not surpass 5% of the Net Asset Value (NAV) of the mutual fund.
7. The mutual fund shall make purchases and trade securities based on the deliveries made. It must also refrain from putting itself in a situation wherein a short sale has to be made or transactions have to be carried forward.
8. If long-term investments are involved, the fund will be required to get the securities transferred or purchased in the Fund's name, on the account of the said scheme.
9. The mutual fund's scheme will not be allowed to make investments in:
   1. Any security that is unlisted and belongs to an associate or a group firm of the sponsor
   2. Any security that has been issued by means of private placement by either an associate or a group firm of the sponsor
   3. Securities that are listed and belong to group firms of the sponsor which in turn exceeds 25% of the NAV of the said scheme.
10. The scheme will not be permitted to make investments in fund of fund schemes.

Dividend Policy of Nippon India Vision Fund

When the scheme's dividends are declared by the company, the net assets that are credited to the unitholders are reduced by a certain amount that is equal to the product of the number of units that are permitted for dividend payout. The element of NAV remains unchanged in the Growth option. According to the guidelines stated by SEBI, the redemption that is unclaimed and the dividend amount that has not been claimed by the unitholder will be released into money market or call money market instruments. The unclaimed redemption may also be deployed to a separate plan altogether, which could be a liquid scheme, a money market mutual fund scheme, and so on.

Why you Should Invest in Nippon India Vision Fund

Backed by a legitimately strong entity such as Nippon India Anil Dhirubhai Ambani Group, Nippon India Mutual Fund (RMF) essentially devises meaningful collective investment schemes and strategies for effective savings and investment for those who stay in India and outside India (NRI and POI). Simultaneously, RMF also takes care of liquidity needs of unitholders whenever required. With their effective strategies, RMF also provides funds that have been raised, for the unitholders to earn a reasonable return upon their subsequent investment.

GST rate of 18% applicable for all financial services effective July 1, 2017.