NFONEST
August 2020
After a lone New Fund Offer (NFO) made its
appearance in June 2020, July 2020 and August 2020 have just two NFOs open in
view of the ongoing COVID-19 pandemic.
Nippon India Multi Asset Fund
Opens: August 7,
2020
Closes: August 21,
2020
Nippon Life
India Mutual Fund has launched Nippon India Multi Asset Fund. It is an
open-ended scheme that will invest across asset classes like equity, debt and
commodities to provide benefits of growth, stability and diversification. The
primary investment objective of Nippon India Multi Asset Fund is to seek long
term capital growth by investing in equity and equity related securities, debt and
money market instruments and Exchange Traded Commodity Derivatives and Gold ETF
as permitted by SEBI from time to time. SEBI defines a Multi Asset Fund as a
scheme which invests in at least three asset classes with a minimum allocation
of at least 10% each in all three asset classes. The fund will invest 50% to
80% in equity and equity related securities (including overseas securities/Overseas
ETF), 10% to 20% in debt and money market instruments and 10% to 30% in the
commodities, including gold Exchange Traded Funds. The benchmark of this scheme
is 50% of S&P BSE 500, 20% of CRISIL Short Term Bond Fund Index and 30% of
Thompson Reuters – MCX iCOMDEX Composite Index. The fund will be managed by
Manish Gunwani, CIO - Equity Investments along with Ashutosh Bhargava, Fund
Manager and Head Equity Research, Kinjal Desai, Fund Manager - Overseas; Amit
Tripathi CIO - Fixed Income and Vikram Dhawan Head – Commodities. Investors
tend to have a home-bias and invest mainly into domestic equities. It is
important for investors to have a foot in every major investible asset classes,
including international equities and commodities, which could help them balance
returns across cycles.
Mahindra Manulife Arbitrage Yojana
Opens: August 12,
2020
Closes: August 19,
2020
Mahindra Manulife Mutual Fund
has launched Mahindra Manulife Arbitrage Yojana for investment in arbitrage
opportunities. It is an open-ended fund for investment in arbitrage
opportunities available in equity, derivatives and debt markets. The fund, under
normal circumstances, would invest a minimum of 65-100 percent in equity and
equity-related instruments, including equity derivatives, up to 35 percent in
debt and money market securities including tri-party repo, reverse repo. Under
defensive circumstances, the scheme would invest 0- 65 percent in equity and
equity-related instruments, including equity derivatives, up to 35-100 percent
in debt and money market securities, including tri-party repo, reverse repo,
and up to 10 percent in units issued by REITs & InvITs. The arbitrage yojana
is suitable for investors seeking income through arbitrage opportunities
between cash and derivative market and arbitrage opportunities within the
derivative segment over the short term. The scheme will use several strategies
to identify arbitrage opportunities across market cycles and offer returns at
relatively lower volatility and lower risk. The fund is benchmarked against the
Nifty 50 Arbitrage Index TRI. The fund managers are Mr.
Srinivasan Ramamurthy for the equity portion and Mr. Rahul Pal for the debt
portion.
HSBC Corporate Debt Fund, Edelweiss MSCI India Financials Index Fund, Axis
Value Fund, Baroda Value Fund, Motilal Oswal Asset Allocation Index Fund of
Fund – Conservative, Motilal Oswal Asset
Allocation Index Fund of Fund – Aggressive, Motilal Oswal 5 Year G-Sec ETF and
Invesco India Feeder – Invesco Global Consumer Trends Fund are expected to be
launched in the coming months.
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