NFONEST
January2019
NFOs of various hues
adorn the January 2019 NFONEST.
SBI Debt Fund Series C 38
Opens: January 15, 2018
Closes: January 22, 2018
SBI
Mutual Fund launched the SBI Debt Fund Series C-38 (1224 Days), a close-ended
debt scheme. The investment objective of the scheme is to provide regular
income and capital growth with limited interest rate risk to the investors
through investments in a portfolio comprising of debt instruments such as government
securities, PSU and corporate bonds and money market instruments maturing on or
before the maturity of the scheme. The scheme’s performance will be benchmarked
against CRISIL Medium Term Debt Index and its fund manager is Ms. Ranjana
Gupta.
Baroda
Money Market Fund
Opens: January 16, 2018
Closes: January 22, 2018
Baroda Mutual
Fund has launched Baroda Money Market Fund an open ended debt scheme which aims
to provide its investors reasonable returns, commensurate with low risk while
providing a high level of liquidity through investments made in money market
instruments. Baroda Money Market Fund will invest up to 100% of its assets in
money market instruments of varying ratings including unrated debt securities.
The scheme will not have any exposure to debt derivatives, securitized debt,
REITs and INViTs and foreign securities. The scheme will be benchmarked against
CRISIL Money Market index. The index tracks the performance of a money market
portfolio comprising of a blend of commercial papers (CP), certificates of
deposits (CD) and treasury bills (T-Bill). The scheme will be jointly managed
by Mr. Alok Sahoo and Mr. Karn Kumar. Baroda Credit Risk Fund is another scheme
which is being jointly managed by the duo. Baroda Credit Risk Fund has
generated a return of 7.11% and 9.79% over a period of 1 year and 3 year respectively.
Tata Balanced Advantage
Fund
Opens: January 9, 2018
Closes: January 23,
2018
Tata Mutual Fund
has launched its open ended dynamic asset allocation fund - Tata Balanced
Advantage Fund. The scheme aims to provide capital appreciation and income distribution
to the investors by using equity derivatives strategies, arbitrage
opportunities and pure equity investments. The fund will follow an in-house
model called the PE plus model, which would factor in other market dynamics
other than intrinsic value, to decide scheme allocation. The model allows 10%
variation to the basic PE based equity allocation; driven by correlation to
select global markets (relevant to Indian equities), implied volumes (to
identify extremes – fear vs. complacency), momentum indicators (price based
indicators to avoid early entry/exit in a directional market). The basic
goal of the strategy is to be able to manoeuver the investment allocation in
accordance with the prevailing market conditions to make money work harder. The
fund would make use of various alternative models depending upon macro,
fundamental factors and fund manager outlook to determine the unhedged equity
allocation. The fund is benchmarked against the CRISIL
Hybrid 35+65 Aggressive Index. The fund
managers are Mr. Rahul Singh, Mr. Sonam Udasi, Mr. Sailesh Jain and Mr. Akhil
Mittal.
Opens: January 11, 2018
Closes: January 25,
2018
LIC Mutual Fund
has launched LIC Short Term Debt Fund, an open-ended short-term debt fund
scheme investing in instruments with Macaulay duration between 1 year and 3
years opportunities. The fund manager will use quantitative analysis while
accessing the short-term debt opportunity and invest in securities that are
rated investment grade by credit rating agencies or in unrated debt securities,
which the investment manager believes to be of equivalent quality, says the
fund house. The fund manager will emphasize on credit analysis to determine
credit risk and the investment process will follow a top down approach
considering aspects like interest rate view, term structure of interest rates,
systemic liquidity, RBI’s policy stance, expectations on inflation and so on. The
scheme is beneficial for the investors who have moderate risk appetite and an
investment horizon for 3 years. The fund is benchmarked against the CRISIL
Short Term Bond Index. Marzban Irani will manage the fund.
SBI Corporate Bond Fund
Opens: January 16, 2018
Closes: January 29, 2018
SBI Mutual Fund
has launched SBI Corporate Bond Fund which aims to provide the investors an
opportunity to predominantly invest in corporate bonds rated AA+ and above to
generate additional spread on part of their debt investments from high quality
corporate debt securities. The open-ended debt scheme intends to maintain
moderate liquidity in the portfolio through investment in money market
securities. SBI Corporate Bond Fund will invest 80%-100% of its assets in
Corporate Bonds rated AA+ and above and around 0%-20% in other debt
instruments, Central and State Government (s) dated securities and money
market instruments. The scheme can also invest 0%-10% in units of REITs and
InVITs. The scheme will be benchmarked against NIFTY Corporate Bond Index. The
index measures the performance of AAA rated corporate bonds across 6 duration
buckets (Macaulay Duration). The scheme will be managed by Mr. Rajeev
Radhakrishnan. Other funds being currently managed by him include SBI Short
Term Debt Fund and SBI Magnum Ultra Short Term Debt Fund. These funds have
given a return of 6.85% and 8.19% respectively over a period of last 1 year.
Aditya Birla Sunlife Dual Advantage Fund - Series 2
Opens: January 17, 2018
Closes: January 31,
2018
Aditya
Birla Sunlife Dual Advantage Fund – Series 2 is a close ended hybrid scheme. The
primary investment objective of the scheme is to generate income by investing
in a portfolio of fixed income securities maturing on or before the maturity of
the scheme. The secondary objective is to generate capital appreciation by
investing a portion of the scheme corpus in equity and equity related
instruments. The fund is benchmarked against the CRISIL Hybrid 75+25 -
Conservative Index. The fund managers are Mr. Mohit Sharma (for debt assets),
Mr. Vineet Maloo (for equity assets) and Mr. Ajay Garg (for Index Options).
Edelweiss Small Cap Fund
Opens: January 18, 2019
Closes: February 1,
2019
Edelweiss Mutual
Fund has launched Edelweiss Small Cap Fund, an open-ended scheme predominantly
investing in small cap stocks. The investment objective of the scheme is to
generate long term capital appreciation from a portfolio that predominantly
invests in equity and equity related securities of small cap companies. The
fund offers a facility — Smart Trigger-enabled Plan (STeP), which helps an
investor to invest in a staggered manner and mitigates market timing risk. This
feature is available only during the NFO. Through the STeP facility, investors
can spread their investment in Edelweiss Small Cap Fund in five equal monthly
instalments. Under the STeP facility 20% of the application money (1st
instalment) will be invested upfront in the Edelweiss Small Cap Fund on
February 19, 2019 (the date of allotment). The remaining 80% of the application
money will be invested in the Edelweiss Liquid Fund in 4 equal instalments over
the period of following 4 months. The 2nd instalment (20% of the application
amount) will be made in the Edelweiss Liquid Fund on March 19, 2019 if the
small cap index falls by 3% from the date of allotment, otherwise on last business day of the month. Similarly, the 3rd, 4th and 5th
instalments will be made with a 6% fall in the month of April, 9% fall in the
month of May and 12% fall in the month of June respectively in the small cap
index. The money invested in the Edelweiss Liquid Fund will be subsequently
switched into Edelweiss Small Cap Fund. The benchmark for the fund is the Nifty
Small-Cap 250 TR Index. The index represents the balance 250 companies
(companies ranked 251-500) from NIFTY 500. Harshad Patwardhan, CIO – Equities,
Edelweiss Mutual Fund will manage this fund.
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