Mumbai: Benchmark has filed an offer
document with SEBI to launch Smallcap
Benchmark Exchange Traded Scheme (Smallcap BeES),
an open ended listed index scheme.
The investment objective is to provide returns that, before expenses, closely correspond to the
total returns of the securities as represented by the CNX Smallcap Index by
investing in the securities in the same proportion as in the Index. The scheme would allocate
95-100 per cent of assets in securities covered by the CNX
Smallcap Index with medium to high risk profile. It would further invest up to 5 per cent of assets in money
market instruments, G-Secs, bonds, debentures and cash at call with low risk profile.
The fund will be
benchmarked against CNX
Smallcap Index. The scheme will not charge any entry or exit load. The fund
will be managed by Vishal Jain.
