Mutual Fund News : Canara Robeco Mutual Fund Introduces Canara Robeco Mid Cap Fund

Publish Date:

Canara Robeco Mutual Fund has launched – Canara Robeco Mid Cap Fund

It is an open-ended equity scheme predominantly investing in mid cap stocks

Accordingly, the investment objective of the scheme is to generate capital appreciation by investing predominantly in equity and equity related instruments of mid cap companies. However, there can be no assurance that the investment objective of the scheme will be realized.

Under normal circumstances, Canara Robeco Mid Cap Fund will hold an allocation of 65% to 100% of its assets in Equity and Equity-related Instruments of Midcap companies, 0% to 35% in Equity and Equity-related Instruments of companies other than Midcap companies, 0% to 35% in Debt and Money Market Instruments and 0% to 5% in Units issued by REITs and InvITs.

As per the Scheme Information Document, Canara Robeco Mid Cap Fund will intend to build a well-diversified portfolio of midcap companies present across sectors with a long-term perspective. The fund may follow a bottom-up approach towards analysing and investing in individual companies and a top-down approach towards identifying and taking exposure across sectors. The investment emphasis of the scheme would be in identifying companies with strong competitive position in good business and which have quality management.

The scheme would follow an active investment style supported by in-house research. Essentially, the focus would be on fundamentally strong companies with scope for growth over time. The fund manager while selecting the stocks would focus on the fundamentals of the business, the industry structure, the quality of management sensitivity to economic factors, the financial strength of the company and the key earning drivers. The Scheme may from time to time hold cash / cash equivalents for the purpose of derivative investments and for meeting liquidity requirements.

Canara Robeco Mid Cap Fund’s performance will be benchmarked against S&P BSE 150 Mid Cap Index TRI.

The scheme will be managed by Mr Ajay Khandelwal and Mr Shridatta Bhandwaldar

The NFO opens for subscription on November 11, 2022 and closes on November 25, 2022. The schemes will reopen for continuous sale and repurchase on or before December 09, 2022.

The fund’s NAV is priced at Rs 10/- per unit during the NFO period. The minimum subscription amount is Rs 5,000/- and in multiples of any amount thereafter.

The scheme offers Regular Plan and Direct Plan each plan offers Growth and Income Distribution cum Capital Withdrawal (IDCW) option.

[Read: Canara Robeco Mid Cap Fund: Is it Worthwhile Adding Midcap Stocks to Your Portfolio?]