Nippon India Mutual Fund, formerly Reliance Mutual Fund is one of the largest mutual fund houses in India. It was registered with the Securities and Exchange Board of India (SEBI) in June 1995 and started as a joint venture between Reliance Capital and Nippon Life Insurance Company, hence the former name Reliance Mutual Fund. Later on, Nippon Life Insurance increased its stake to 75% and renamed it as Nippon India Mutual Fund in September 2019. In this article, we take a look at the Nippon India Mutual Fund for NRIs review, a comprehensive list of Nippon India mutual fund schemes, NAV, performance, and more.
Overview of Nippon India Mutual Fund for NRIs
Nippon India Mutual Funds (NIMF) has assets under management (AMC) of Rs 2,91,415 crores (approx) and offers around 180 primary mutual fund schemes for NRIs and resident Indians. Nippon Life India Asset Management Limited (NAM India) is the asset manager of Nippon India Mutual Funds. The fund house offers a variety of mutual funds under equity, debt, hybrid, commodity, and other segments. Nippon India Mutual Fund also has the tutelage of being the first mutual fund company to be listed on the stock exchange.
Also read: Best Mutual Funds for NRI in India 2024
Can NRIs invest in Nippon India Mutual Funds?
Yes, NRIs can easily invest in Nippon India mutual funds after getting their Mutual Fund KYC done and linked to their NRO/NRE Bank accounts. They can invest in various mutual fund schemes and generate good returns in the long term. This helps NRIs to build a fund that can match their investment goals and secure their future for any long-term financial needs.
The FEMA Act, RBI rules, and SEBI guidelines govern the rules and regulations regarding NRI investments in mutual funds which is why it has a slightly different procedure than that of resident individuals. Keeping in check with the FEMA Act, the funds on offer for NRIs from the US & Canada to NRIs from other countries may vary at times.
Also read: Best SIP to Invest in 2024 – Top 10 SIP Mutual Fund Plans for NRIs/OCIs
How can NRIs invest in Nippon Life India Asset Management Limited (NAM India)?
NRIs and OCIs can download the SBNRI app to invest in mutual funds from the country of their residence. Here are a few simple steps you need to take:
- Complete your NRI KYC: Type in your personal details and attach supporting documents, like:
- PAN Number
- Overseas address proof: Any – Water/electricity bills, postpaid mobile/internet bills, rent agreements, driving licenses, etc.
- Passport – front and back
- Passport size photograph
- Signature
- Onboarding: After KYC, you need to share the following details to complete the onboarding process and start investing in Nippon Life India Asset Management Limited (NAM India)
- City and country of birth
- NRE/NRO bank account statement/ canceled cheque for the last 3 months
- Nominee details
Also read: Tata Mutual Fund for NRIs – A Comprehensive Overview of Schemes, NAV, and Performance
Top 10 Performing Nippon India Equity Mutual Funds for NRIs
| Fund Name | Fund Size (In Crores) | Expense Ratio | Current NAV (INR) | 1 YR | 3 YR |
| Nippon India Small Cap Fund – Growth for NRI | 37,374 Cr | 1.6% | 124.28 | 35.92 | 44.52% |
| Nippon India Power & Infra Fund – Growth for NRI | 2,729 Cr | 2.1% | 237.07 | 44.26% | 39.71% |
| Nippon India Growth Fund – Growth for NRI | 19,247 Cr | 1.7% | 2770.12 | 30.33% | 33.45% |
| Nippon India Multi Cap Fund – Growth for NRI | 20,930 Cr | 1.7% | 209.53 | 28.93% | 37.19% |
| Nippon India Consumption Fund – Growth for NRI | 535 Cr | 2.5% | 149.87 | 15.90% | 28.62% |
| Nippon India Value Fund – Growth for NRI | 5,712 Cr | 1.9% | 153.91 | 24.69% | 28.02% |
| Nippon India Large Cap Fund – Growth for NRI | 16,634 Cr | 1.7% | 66.29 | 25.04% | 29.16% |
| Nippon India Focused Equity Fund – Growth for NRI | 7,141 Cr | 1.9% | 94.22 | 18.68% | 27.55% |
| Nippon India Pharma Fund – Growth for NRI | 5,688 Cr | 1.9% | 348.91 | 24.30% | 14.11% |
| Nippon India Banking & Financial Services Fund Growth for NRI | 4,630 Cr | 1.9% | 467.10 | 24.24% | 30.90% |
Also read: Best Equity Mutual Funds for NRIs to Invest in 2024
Top 5 Performing Nippon India Debt Mutual Funds for NRIs
| Fund Name | Fund Size (In Crores) | Expense Ratio | Current NAV (INR) | 1 YR | 3 YR |
| Nippon India Credit Risk Fund Growth for NRI | 1,018 Cr | 1.6% | 30.32 | 8.04% | 8.67% |
| Nippon India Corporate Bond Fund Growth for NRI | 2,458 Cr | 0.7% | 51.92 | 7.29% | 5.45% |
| Nippon India Short Term Fund – Growth for NRI | 6,141 Cr | 1.0% | 45.92 | 6.80% | 4.78% |
| Nippon India Floating Rate Fund Growth for NRI | 7,227 Cr | 0.6% | 39.33 | 7.32% | 5.04% |
| Nippon India Ultra Short Duration Fund Growth for NRI | 5,301 Cr | 1.2% | 3574.49 | 6.70% | 6.31% |
Also read: Best Debt Mutual Funds in India 2024 for Residents and NRIs/OCIs
Top 5 Performing Nippon India Hybrid Mutual Funds for NRIs
| Fund Name | Fund Size (In Crores) | Expense Ratio | Current NAV (INR) | 1 YR | 3 YR |
| Nippon India Equity Hybrid Fund – Growth for NRI | 3,072 Cr | 2.0% | 80.39% | 19.78% | 21.47% |
| Nippon India Balanced Advantage Fund Growth for NRI | 7,022 Cr | 1.8% | 139.23 | 11.79% | 13.75% |
| Nippon India Gold Savings Fund – Growth for NRI | 1,469 Cr | 1.1% | 22.95 | 12.93% | 2.93% |
| Nippon India Retirement Fund – Income Generation Scheme – Growth for NRI | 169 Cr | 2.1% | 17.03 | 9.40% | 5.96% |
| Nippon India Equity Savings Growth for NRI | 303 Cr | 1.7% | 13.83 | 11.60% | 10.37% |
Top Performing Nippon India Tax Savings Mutual Funds for NRIs
| Fund Name | Fund Size (In Crores) | Expense Ratio | Current NAV (INR) | 1 YR | 3 YR |
| Nippon India Tax Saver (ELSS) Fund – Growth for NRI | 12,734 Cr | 1.7% | 93.95 | 21.33% | 26.58% |
Also read: List of Top Performing Liquid Funds for NRIs in 2024
Key Information
| Mutual Fund | Nippon India Mutual Fund |
| Date of incorporation | 24 Feb 1995 |
| Setup date | 30 Jun 1995 |
| Trustee(s) | Nippon Life India Trustee Limited |
| Sponsor | Nippon Life Insurance Company |
| CEO & MD | Mr. Sundeep Sikka |
| Compliance Officer | Mr. Muneesh Sud |
| Chief Risk Officer | Mr. Milind Nesarikar |
| Average Assets Under Management (AAUM) | Rs 2,91,415 Crores (As of Feb 2023) |
Customer Care Details
For any query regarding any schemes offered by Nippon India Mutual Fund, you can contact the following address:
- Registered Address: NG-1 & 1A, North Block, Manipal Centre, Dickenson Road, Bangalore – 560042. Branch Timing (9 am – 6 pm)
- Phone no: 1800-300-11111
- Email: [email protected]
Also read: HDFC Mutual Fund for NRIs – A Comprehensive Overview of Schemes, NAV, and Performance
How to Invest in Nippon India Mutual Funds as NRI?
NRIs can now download the SBNRI App and choose to invest in different Nippon India mutual funds for NRIs schemes from Nippon Life India Asset Management Limited (NAM India) in India with ease. You can also get detailed investment advice from experts at SBNRI. Also, visit our blog and YouTube channel for more details.
SBNRI is an authorized Mutual Fund Distributor platform & registered with the Association of Mutual Funds in India (AMFI). ARN No. 246671. NRIs willing to invest in mutual funds in India can download the SBNRI App to choose from 2,000+ mutual fund schemes or can connect with the SBNRI wealth team to better understand Mutual Fund investments.
FAQs
Can NRIs invest in Nippon India Mutual Funds?
- Yes, NRIs can invest in Nippon India Mutual Funds on a full repatriation and non-repatriation basis as long as they adhere to the Foreign Exchange Management Act (FEMA) guidelines. NRIs need to complete the KYC to invest in mutual funds in India.
How can NRI buy Mutual Funds from Nippon Life India Asset Management Limited (NAM India)?
- Step 1: Set up an NRI Account: As per FEMA guidelines, after attaining the NRI status, you can’t park your money in a regular resident savings account in India and need to open an NRE or NRO account. Once the account is activated, you can start investing.
- Step 2: Get Your KYC Done: You need to complete the KYC process before starting investment in Nippon India mutual funds for NRIs in India.
Are Nippon India Mutual Fund’s schemes safe to invest in?
- Mutual funds are subject to market conditions and all market-linked investments come with a degree of risk. However, you can choose from low-risk to high-risk mutual funds to invest in as per your risk appetite and investing goals.
Which Nippon India Mutual Fund scheme is best for the short term?
- Generally, a short-term investment is ideal for up to 3 years. If you are planning short-term investment, consider Nippon India Mutual fund debt funds for NRIs. If your investment is up to three months, Nippon India Mutual Fund liquid funds for NRIs are ideal for you.
What is the taxation on Nippon India Debt Mutual Funds?
- The debt mutual fund tax has been changed with effect from April 1, 2023, after the Budget 2023 brought certain amendments. Debt mutual funds will no longer be allowed to avail of indexation benefits from FY 23-24. Any gains made on debt mutual funds investment will now attract taxation on applicable slab rates of the investor’s income bracket.
What are Debt funds vs. Equity Funds?
- Debt funds are mutual funds that invest money into fixed-income securities, corporate bonds, treasury bills, commercial papers, and more. On the other hand equity funds invest the money into stocks/shares of the company.
Are Nippon India debt mutual funds safer than Nippon India equity mutual funds?
- Debt funds invest in fixed-income securities, corporate bonds, treasury bills, commercial papers, and more while equity funds invest in stocks/shares of the company. This makes debt funds a relatively safer option as an investment than equity funds.
Are Nippon India equity mutual funds safer for NRIs?
- Equity mutual funds have high volatility and can be risky for investors. However, overseeing the returns generated by equity mutual funds for the past 15 years, these funds can be a great investment vehicle and offer great wealth-generation opportunities for NRIs.
Is Nippon India equity mutual funds safer than FD?
- Fixed deposits have a risk-free fixed income and are safer than equity mutual funds. However, as per the returns and growth opportunity, equity mutual funds look to be a better investment option for investors, residents, and NRIs alike.
What is the Nippon India liquid fund taxation for NRI?
- NRIs are liable to pay taxes on the capital gain earned from Liquid funds. The short-term capital gains for sell of liquid funds for a period under 3 years of holding are taxed at investor’s slab rates. After the Budget 2023 amendments, long-term capital gains won’t enjoy any indexation benefit and will be charged as per the investor’s slab rates removing the LTCG benefits altogether.
Can I invest from the USA in the Nippon India Mutual Fund?
- Yes an NRI can invest from the USA in India in various mutual fund schemes offered by Nippon Mutual Funds for NRIs provided it complies with the FEMA Act, RBI guidelines, and SEBI guidelines.
Can NRI invest in SIP in Nippon India Mutual Fund in India?
- Yes, an NRI can invest in India through the SIP route in Nippon India Mutual Fund for NRI schemes. SIP stands for Systematic Investment Plan.
