The investment objective of the scheme is to generate returns that are in line with the performance of the BSE Capital Markets & Insurance Total Return Index, subject to tracking errors. There is no assurance or guarantee that the investment objective of the Scheme will be achieved.
The Scheme will track BSE Capital Markets & Insurance Index and will use a "passive" or indexing approach to endeavour to achieve the scheme`s investment objective. Unlike other funds, the scheme will not try to outperform its benchmark and will not seek temporary defensive positions when the market declines or appears overvalued. The AMC does not make any judgments about the investment merit of a particular stock or a particular industry segment nor will it attempt to apply any economic, financial or market analysis. Since the scheme is an exchange traded fund, the scheme will only invest in the securities constituting the underlying index. In case of Money Market securities, the scheme aims to identify securities which offer optimal level of yields/returns, considering risk-reward ratio. The scheme may take exposure to derivative instruments on the underlying index (stock/ index futures) up to 20% of the Net Assets. Derivatives shall mean derivatives instruments as permitted by SEBI, including derivative exposure in accordance with SEBI Master Circular dated May 19, 2023, and such other amendments issued by SEBI from time to time. The Scheme may take an exposure to equity derivatives of constituents of the underlying Basket when securities of the Basket are unavailable, insufficient or for rebalancing at the time of change in Basket or in case of corporate actions, for a short period of time, subject to derivative limits. Such exposure to derivatives will be rebalanced within seven calendar days. The Scheme may use derivative instruments such as stock/index futures and stock/index options contracts, swap agreements or any other derivative instruments that are permissible or may be permissible in future under applicable regulations and such investments shall be in accordance with the investment objective of the Scheme. Derivative limit subject to limit of 20% of net assets.
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