Canara Robeco Nifty Index Fund

Canara Robeco Nifty Index Fund is being managed by Soumendra Nath Lahiri. Soumendra has 16 years of experience in Research and Asset Management and took over in April 2011. It is not a great index fund. If you have invested in this fund, you can stay invested. Do not allocate more than 30% of your investments to this fund. If you are a new investor you can skip this one for a better performing fund.

Where does Canara Robeco Nifty Index fund invest your money?

Canara Robeco Nifty Index Fund is an index fund which invests your money in companies on S&P CNX Nifty to try to imitate returns and better it. Top three allocations in stocks are in Infosys, RIL and ITC.

Suitable for what?
  • Child's Education
  • Child's Marriage
  • Planning for retirement
  • Home Purchase
Not suitable for what?
  • Creation of wealth
  • Short term needs
Our recommendation for fresh investment
Not Recommended
Our recommendation for existing investment.
Not Recommended
How has Canara Robeco Nifty Index fund performed in the past?

If you had invested Rs 1 lakh when the fund was launched in August 2004 the value of your investments would be around Rs 3.18 lakhs. If you had invested Rs 1 lakh five years back it would have become Rs 1.13 lakhs. The performance has been not better than or similar to other mutual funds in this category. The fund has been giving at around 2.55% every year for those who stayed invested for last 5 years.

Assume you had invested Rs 10,000 every month in Canara Robeco Nifty Index Fund through SIP for the past 5 years today you would have just around Rs 7.55 lakhs.

What charges apply?

A onetime fee of Rs 100 is charged on investments over Rs 10, 000 made through distributors. If you are a first time investor in mutual funds an additional Rs 50 is charged to cover KYC expenses. This is deducted from your investment and can be skipped if you buy directly from the mutual fund via their website or offices.

If units are sold within a year an exit load of 1% is deducted from your total returns. No exit load applies for units withdrawn post one year. Expense ratio of Canara Robeco Nifty Index Fund is 1.82%. This is charged to recover the fund management company’s expenses on securities’ transactions, commissions, registrar fees, etc. Your mutual fund returns will be total returns less expense ratio.

When to exit?

Withdraw when your goals are closer to achievement. Do not remove the money when the markets go up or down. Do not panic. Stick to your goals.

 

What are the tax implications?

The returns in a mutual fund are absolutely tax free, provided you did not withdraw within 1 year. Canara Robeco Nifty Index Fund does not qualify for sec 80C ELSS benefits.

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