NFONEST

September 2019

NFOs of various hues adorn the September 2019 NFONEST.

 

ICICI Prudential Global Advantage Fund

Opens: September 16, 2019

Closes: September 20, 2019

ICICI Prudential Global Advantage Fund is a Fund of Funds scheme with the primary objective to generate returns by investing in units of one or more mutual fund schemes/ETFs (managed by ICICI Prudential Mutual Fund or any other Mutual Fund(s)) which predominantly invest in international markets. A certain corpus of the scheme will also be invested in units of domestic mutual fund schemes/ETFs managed by ICICI Prudential Mutual Fund or any other Mutual Fund(s). Benchmark Index for the scheme is S&P Global 1200 TRI (80), S&P BSE Sensex TRI (20). The fund managers are Mr. Sankaran Naren and Mr. Dharmesh Kakkad.

SBI CPO Fund – Series A (Plan 6)

Opens: September 12, 2019

Closes: September 26, 2019

SBI Mutual Fund has unveiled a new fund named as SBI Capital Protection Oriented Fund - Series A (Plan 6), a close-ended Capital Protection Oriented Scheme. The tenure of the scheme is 1350 days from the date of allotment. The investment objective of the scheme endeavors to protect the capital by investing in high quality fixed income securities that are maturing on or before the maturity of the scheme as the primary objective and generate capital appreciation by investing in equity and equity related instruments as a secondary objective. The scheme will invest 80%-100% of assets in debt instruments (including debt derivatives) and money market instruments (including Triparty Repo, Reverse repo) with low to medium risk profile and invest up to 20% of assets in equity and equity related instruments (including derivatives and ETFs) with high risk profile. Benchmark Index for the scheme is CRISIL Hybrid 85+15 - Conservative Index. The fund managers are Mr. Rajeev Radhakrishnan (debt portion) and Mr. Ruchit Mehta (equity portion).

 ITI Long Term Equity Fund

Opens: July 15, 2019

Closes: October 14, 2019

ITI Mutual Fund has launched the ITI Long Term Equity Fund, an open-ended ELSS fund (Equity Linked Saving Scheme) with a statutory lock in of 3 years and tax benefit. The investment objective of the fund is to provide long-term capital appreciation by investing predominantly in equity and equity related securities. According to ITI Mutual Fund, the fund will invest in a diversified basket of equity stocks spanning the entire market capitalisation spectrum and across multiple sectors, debt and money market instruments. The fund would identify companies for investment, based on good track record of the company, potential for future growth and industry economic scenario. ITI Long Term Equity Fund will also invest a portion of the funds in initial offerings and other primary market offerings. Risk will be managed through adequate diversification by spreading investments over a wide range of companies. The scheme may take advantage of special situations that present an investment opportunity to the fund manager who can judge the implications of that opportunity that can unlock value for investors. Some of these situations are merger of businesses or companies which may result in synergies in business activities. Demerger may result in separation/spin-off of business operation/activity from some other business operation/activity. Companies may consider a buy-back of their shares from the market due to various reasons (like company has substantial free reserves, management is confident of the future growth potential, meeting with the regulatory norms, etc.) The fund is benchmarked against the Nifty 500 Total Return Index. Mr. Pradeep Gokhale and Mr. George Heber Joseph will manage the fund.

ICICI Prudential ESG Fund, ICICI Prudential India Equity Fund, Axis Sustainable Equity Fund, Tata Focused Equity Fund, Principal Mid Cap Fund, Principal Global Equity Fund, Principal Value Fund, Edelweiss Equity Yield Fund and Baroda Banking and PSU Bond Fund are expected to be launched in the coming months.