Nippon India Mutual Fund (NIMF) in collaboration with Cathay Site, an asset management company in Taiwan, has launched India’s first Taiwanese Fund - Nippon India Taiwan Equity Fund.
The fund’s primary investment objective is to provide long term capital appreciation by primarily investing in growth and value stocks listed on the Taiwan Stock Exchange. Following a multi cap investment strategy, the fund will focus on new technology trends and will hold less than 10% in a single stock.
The NFO will open for subscription on November 22, 2021 and close on December 06, 2021.
Taiwan Capitalization Weighted Stock Index (TAIEX) is the benchmark index, and Kinjal Desai will be the fund manager.
In a press release, Sundeep Sikka, ED and CEO, NIMF said, “The launch of Nippon India Taiwan Equity Fund with Cathay SITE is in line with our objective to become a global asset manager based out of India to provide international diversification to Indian investors leveraging Nippon Life Insurance’s global network.”
“It’s our honor to extend our experience in Taiwan equity investment to NIMF and to offer Indian investors the opportunities to ride a wave of the technology mega trend”, added Andy Chang, President and CEO, Cathay SITE.
