NFO NEST

November 2014

NFOs of various hues flood the market in the November 2014 NFONEST.

ICICI Prudential Capital Protection Oriented Fund – Series VII Plan B

Opens: November 5, 2014

Closes: November 19, 2014

ICICI Prudential Capital Protection Oriented Fund - Series VII - Plan B is a close ended capital protection oriented fund. The tenure of the fund is 1285 days. The investment objective of the fund is to seek to protect capital by investing a portion of the portfolio in highest rated debt securities and money market instruments and also provide capital appreciation by investing the balance in equity and equity related securities. The securities would mature on or before the maturity of the plan under the fund. The fund would allocate 70%-100% of assets in debt securities and money market instruments with low to medium risk profile and invest up to 30% of assets in equity and equity related securities with medium to high risk profile. The benchmark Index is CRISIL MIP Blended Index. The fund managers are Vinay Sharma (equity portion), Aditya Pagaria and Rahul Goswami (debt portion) and Ashwin Jain (for investments in ADR / GDR and other foreign securities).

Franklin India Multi-Asset Solution Fund

Opens: November 7, 2014

Closes: November 21, 2014

Franklin India Multi-Asset Solution Fund is an open-ended fund that seeks to achieve capital appreciation and diversification through a mix of strategic and tactical allocation to various asset classes such as equity, debt, gold and cash. The fund will invest in existing schemes of Franklin Templeton and ETFs which have a long term performance track record. The fund simplifies the investment process for investors who currently have to invest in a range of asset classes to achieve their desired asset allocation. It makes the investment process much easier for investors on account of its dynamic asset allocation rebalancing feature. The fund will invest the equity component into Franklin India Bluechip Fund and/or Franklin India Prima Plus. The debt portion of the fund will be invested into Franklin India Short Term Income Plan and/or Franklin India Income Opportunities Fund. The money market allocation will be invested in Franklin India Treasury Management Account. The gold component of the fund will be invested in any of the domestic gold ETFs.

DSP BlackRock 3 Years Close Ended Equity Fund

Opens: November 7, 2014

Closes: November 21, 2014

DSP BlackRock 3 Years Close Ended Equity Fund will invest a minimum of 65% in equity and equity related securities of small, micro and mid-cap companies and up to 35% in debt, money market securities. The fund will use a combination of top-down and bottom-up analysis to identify sector and stock weightages in the portfolio. Benchmarked against CNX 500 Index, the fund will have a concentrated portfolio and invest primarily in the equity and equity related securities of companies which are valued at a reasonable price. The fund will be co-managed by Vinit Sambre and Laukik Bagwe. 

LIC Nomura Mutual Fund Diversified Equity Fund – Series 2

Opens: November 10, 2014

Closes: November 24, 2014

LIC Nomura MF Diversified Equity Fund - Series 2 is a close ended equity fund with a duration of 1100 days. The primary investment objective of the fund is to generate capital appreciation, from a portfolio that is substantially constituted of equity and equity related securities constituting S&P BSE 200 Index Companies. The fund may also invest a certain portion of its corpus in cash and cash equivalents, debt and money market instruments from time to time. The fund shall invest 80-100% in equity and equity related instruments constituted of companies in S&P BSE 200 index with high risk profile and up to 20% in cash and cash equivalents, debt and money market instruments with low risk profile. The benchmark Index for the fund is S&P BSE 200 Index. The fund managers are Nobutaka Kitajima and Ramnath Venkateswaran.

Birla Sunlife Equity Savings Fund

Opens: November 11, 2014

Closes: November 25, 2014

Birla Sun Life Equity Savings Fund is an open ended equity fund. The investment objective of the fund is to provide capital appreciation and income distribution to the investors by using a blend of equity derivatives strategies, arbitrage opportunities, and pure equity investments. The fund shall invest 65-80% in equity and equity related instruments including derivatives (Out of which: Cash-futures arbitrage: 20% - 60% and Net long equity exposure: 20% - 45%) and 20-35% in debt and money market instruments (including margin for derivatives) The benchmark index for the fund is S&P BSE 200 to the extent of 30% of portfolio, Crisil Short Term Bond Fund Index to the extent of 30% of the portfolio, and Crisil Liquid Fund Index to the extent of 40% of portfolio. The fund managers are Satyabrata Mohanty and Prasad Dhonde.

ICICI Prudential Multiple Yield Fund – Series 8 Plan C

Opens: November 11, 2014

Closes: November 25, 2014

ICICI Prudential Multiple Yield Fund - Series 8 - Plan C is a close ended income fund. The tenure of the plan is 1103 days from the date of allotment of units. The primary objective of the fund is to seek to generate returns by investing in a portfolio of fixed income securities/ debt instruments. The secondary objective of the fund is to generate long term capital appreciation by investing a portion of the fund’s assets in equity and equity related instruments. The fund will allocate 65% to 95% of assets in debt securities (including government securities) with low to medium risk profile. It would allocate up to 30% of assets in money market instruments, cash and cash equivalents with low to medium risk profile and it would allocate 5% to 35% of the assets in equity or equity related securities with medium to high risk profile. Of the investments in debt instruments, 84%-89% would be invested in AA rated non-convertible debentures. The benchmark index for the fund will be CRISIL MIP Blended Index. The fund is proposed to be listed on NSE. The fund managers are Rahul Goswami and Aditya Pagaria for debt portion, Vinay Sharma for equity portion, and Shalya Shah for ADRs/GDRs and other foreign securities.

BOI AXA Capital Protection Oriented Fund – Series2

Opens: November 13, 2014

Closes: November 27, 2014

BOI AXA Capital Protection Oriented Fund - Series 2 is a close-ended capital protection oriented fund. The tenure of the fund will be 37 months from the date of allotment. The investment objective of the fund is to generate income by investing in a portfolio of fixed income and money market instruments maturing on or before the maturity date of the fund. The fund will invest 75%-100% of assets in debt and money market securities with low to medium risk profile and invest up to 25% of assets in equity and equity related instruments with high risk profile. The benchmark index for the fund is CRISIL MIP Blended Fund Index. The fund managers are Alok Singh and Surabh Kataria.

Canara Robeco India Opportunities Fund

Opens: November 14, 2014

Closes: November 28, 2014

Canara Robeco India Opportunities Fund is a close ended equity fund. The tenure of the fund is 3 years (1095 days) from the date of allotment of units. The investment objective of the fund is to generate capital appreciation by investing predominantly in equity and equity related instruments of mid cap companies. The fund shall invest 55-90% in mid- and small cap equity and equity related instruments, 10-45% in large cap equity and equity related instruments, up to 5% in micro-cap equity and equity related instruments with high risk profile and up to 35% in debt and money market instruments with low risk profile. The benchmark Index for the fund is CNX Midcap. The fund manager will be Ravi Gopalakrishnan.

Sundaram World Brand Fund – Series 1

Opens: November 20, 2014

Closes: December 2, 2014

Sundaram Mutual Fund announced the launch of its five year close ended equity scheme called Sundaram World Brand Fund. The fund house plans to launch five series of this fund and the first series will open shortly. Benchmarked against MSCI ACWI Index, the fund will invest a minimum of 65% in overseas equities and up to 35% in domestic fixed income securities. For investing in international securities, Sundaram AMC has entered into an agreement with Sundaram AMC Singapore to act as its investment advisor. Geographically, over 70% of the assets will be invested in stocks listed in the US followed by 12% in Germany, and 8% in Japan. The fund would invest 43% in IT, 36% in consumer discretionary, 12% in consumer staples and the remaining 9% in other sectors. Unlike other overseas funds, this is not a fund of fund, as the fund will directly invest in overseas stocks. Thus, the fund would be treated as an equity fund. The only drawback of this fund is its five-year lock in period. To ensure liquidity, the fund would declare a dividend when the NAV hovers between Rs. 12 and Rs. 16.The fund will be managed by S Bharath. The fund house is planning to launch the second series in December 2014.

SBI Long Term Advantage Fund – Series 1

Opens: November 1, 2014

Closes: January 31, 2015

SBI Long Term Advantage Fund - Series I is a 10 year close ended equity linked savings scheme. The investment objective of the plan is to generate capital appreciation over a period of ten years by investing predominantly in equity and equity related instruments of companies along with income tax benefit. The fund would invest 80%-100% of assets in equities, cumulative preference shares and fully convertible debentures and bonds of companies with high risk profile and invest up to 20% of assets in money market instruments with low to medium risk profile.  The benchmark Index for the fund is S&P BSE 500 Index. The fund manager is Dharmendra Grover.

HDFC Annual Interval Fund – Series II (3 Plans), SBI Equity MIP Fund, JP Morgan India Balanced Advantage Fund, Kotak NV 20 ETF, Motilal Oswal MOST Focused Long-term Fund, and UTI Capital Protection Oriented Fund – Series V are expected to be launched in the coming months.