NRI from all over the world (including U.S.A. & Canada) can invest in this fund
SBNRI is a certified Mutual Fund distributor registered with Association of Mutual Funds in India (AMFI) with Reg. No. 246671
₹42.89
0.02%
NAV as on 19 Nov 24, 12:00 AM
moderate risk
floating rate
debt
NAV as on 19 Nov 24, 12:00 AM
moderate risk
floating rate
debt
8.24%p.a.
Last 1Y
6.22%p.a.
Last 3Y
6.81%p.a.
Last 5Y
7.47%p.a.
Since Inception
About Nippon India Floating Rate Fund Growth for NRIs
NRIs can achieve long-term capital appreciation by investing in the Nippon India Floating Rate Fund Growth scheme from Nippon Life India Asset Management Ltd. It is a Floating Rate mutual fund scheme that predominantly invests in Floating Rate stocks of companies. Launched on Aug 2004, Nippon India Floating Rate Fund Growth is Floating Rate fund of its category with 7,820.98 Cr fund under management as on Nov 2024. The expense ratio of this fund is less than that of most other Fund category Floating Rate funds.
- Nippon India Floating Rate Fund Growth delivered 8.2% annual returns during the last year. It has delivered 7.5% average annual returns since the fund was launched.
- Nippon India Floating Rate Fund Growth scheme tends to consistently deliver higher returns than most schemes in the same category.
- The scheme has predominantly invested in debt
Fund Objective
The primary objective of the scheme is to generate regular income through investment predominantly in floating rate and money market instruments and fixed rate debt instruments.
Top 10 Holdings
Small Industries Development Bank Of India
4.51%
Jamnagar Utilities & Power Private Limited
3.50%
Indian Railway Finance Corporation Limited
3.23%
Rural Electrification Corporation Limited
3.21%
National Bank For Agriculture And Rural Development
2.84%
LIC Housing Finance Ltd
2.78%
7.93% Govt Stock 2033
2.77%
7.53% Govt Stock 2034
2.72%
State Bank Of India
2.70%
08.37 MP Sdl 2028
2.68%
Fund Managers
- Kinjal Desai (May 2018 - Present)
- Vikash Agarwal (Sep 2024 - Present)
Key Information
View Scheme Document
Nippon India Floating Rate Fund Growth SIP Calculator
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NRI Mutual Fund Tax on Nippon India Floating Rate Fund Growth
Just like for resident investors, capital gains from mutual fund investments are subject to income tax for NRI investors.
| Fund Type | Short-term Capital Gains (STCG) Tax | Long-term Capital Gains (LTCG) Tax |
|---|---|---|
| Equity mutual funds | 15% | 10% (above Rs. 1 lakh LTCG) without indexation* |
| Debt & other types of funds | At tax slab rate | 20% with indexation benefits |
How can NRIs invest in Nippon India Floating Rate Fund Growth?
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 of – Water/electricity bill, postpaid mobile/internet bill, rent agreement, driving license, etc.
- Passport – front and back
- Passport size photograph
- signature
If all details are correct, your KYC will be approved within 7 to 8 business days.
- Onboarding: After KYC, you need to share the following details to complete onboarding process and start investing in Nippon India Floating Rate Fund Growth
- Onboarding: After KYC, you need to share the following details to complete onboarding process and start investing:
- City and country of birth
- NRE/NRO bank account statement/ canceled cheque for the latest 3 months
- Nominee details
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Frequently Asked Questions
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