- July 18, 2022
- Posted by: Bastion team
- Category: World News
Conservative investors or first-time investors should, however, stay away from such thematic funds which carry higher risk and come with high volatility.
This passively managed fund will give exposure to the financial services sector, excluding banks.
The index will include the top 30 non-banking financial stocks from the S&P BSE 250 Large-Midcap Total Return Index with the maximum weight to a stock capped at 15%.
The index will be rebalanced semi-annually in June and December. Currently, the index includes stocks of housing finance companies, NBFCs, exchanges, asset management companies, insurance, card payments and fintech, among others.
The NFO is currently open and closes on July 22. Investors can put in a minimum of ₹500 and in multiples of ₹1 thereafter.
“There are huge long-term opportunities in the financial services space given the lower penetration in spaces like insurance, asset management, stock broking, card payments, and housing finance,” said Nirav Karkera, head of research at Fisdom.
For instance, insurance penetration in India is 4.2% compared to 17.4% in Taiwan while the per…