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
₹13.38
0.48%
NAV as on 19 Nov 24, 12:00 AM
very high risk
equity other
equity
NAV as on 19 Nov 24, 12:00 AM
very high risk
equity other
equity
27.93%p.a.
Last 1Y
0.00%p.a.
Last 3Y
0.00%p.a.
Last 5Y
31.67%p.a.
Since Inception
About Nippon India Innovation Fund Growth for NRIs
NRIs can achieve long-term capital appreciation by investing in the Nippon India Innovation Fund Growth scheme from Nippon Life India Asset Management Ltd. It is a Equity - Other mutual fund scheme that predominantly invests in Equity - Other stocks of companies. Launched on Aug 2023, Nippon India Innovation Fund Growth is Equity - Other fund of its category with 2,223.85 Cr fund under management as on Nov 2024. The expense ratio of this fund is less than that of most other Fund category Equity - Other funds.
- Nippon India Innovation Fund Growth delivered 27.9% annual returns during the last year. It has delivered 31.7% average annual returns since the fund was launched.
- Nippon India Innovation Fund Growth scheme tends to consistently deliver higher returns than most schemes in the same category.
- The scheme has predominantly invested in equity
Fund Objective
The investment objective of Nippon India Innovation Fund is to provide long term capital appreciation to investors by primarily investing in equity and equity related securities of companies seeking to benefit from innovation i.e companies that invest in l innovation, research and development, new product development or new platforms to enhance their business and gain share in their respective sectors. However, there can be no assurance or guarantee that the investment objective of the scheme will be achieved.
Top 10 Holdings
3M India Ltd
5.86%
Bajaj Finserv Ltd
4.32%
Info Edge (India) Ltd
3.34%
Zomato Ltd
3.32%
ICICI Bank Ltd
3.20%
HDFC Bank Ltd
3.12%
Syngene International Ltd
3.05%
Affle India Ltd
2.98%
Axis Bank Ltd
2.95%
Kotak Mahindra Bank Ltd
2.84%
Fund Managers
- Vinay Sharma (Aug 2023 - Present)
- Kinjal Desai (Aug 2023 - Present)
- Rishit Parikh (Aug 2024 - Present)
Key Information
View Scheme Document
Nippon India Innovation Fund Growth SIP Calculator
If invested
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For a period of
Investment of ₹0 could have been
₹0(+0.0%)
₹0 (+0.0%)
This Fund
₹0 (+0.0%)
Fixed Deposit
NRI Mutual Fund Tax on Nippon India Innovation 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 Innovation 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 Innovation 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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