Nippon India MF has collected Rs. 600 crore in its recent Taiwan Equity NFO.
Around 7000 partners participated in the NFO which received close to 60,000 applications.
Aashwin Dugal, Co-Chief Business Officer, Nippon India Mutual Fund said, “The fund’s theme (semiconductor) is relevant in the current scenario. Semiconductors are the brains of electronic devices and their usage is expected to increase further. Moreover, the fund focuses on the Taiwanese market which has a dominant place globally in semiconductor manufacturing. A pertinent theme along with Nippon’s strong distribution machinery created traction amongst investors and encouraged their participation.”
“Notably, around one-third of the fund’s collection are from B30 locations”, added Aashwin.
Nippon India Taiwan Equity Fund is India’s first Taiwanese Fund, which was launched in collaboration with Cathay Site, an asset management company in Taiwan.
