Publish Date:
Canara Robeco Mutual Fund launches – Canara Robeco Manufacturing Fund
It is an open-ended equity scheme following the manufacturing theme.
Accordingly, investment objective of the scheme is to seek long term capital appreciation by investing at least 80% of its net assets in equity/equity related instruments of companies focusing and benefitting from innovation. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved.
Under normal circumstances, Canara Robeco Manufacturing Fund will hold an allocation of 80% to 100% in Equity and Equity-related Instruments of companies engaged in Manufacturing theme, 0% to 20% in Equity and Equity-related Instruments of companies other than engaged in Manufacturing theme, 0% to 20% in Debt and Money Market Instruments, 0% to 10% in Units issued by REITs and InvITs.
[Read: Top 5 Mutual Funds That Are Betting on the Manufacturing Boom]
As per the Scheme Information Document, Canara Robeco Manufacturing Fund aims to invest in equities/equity related instruments of companies engaged in the Manufacturing theme. The scheme would endeavour to take exposure into diverse sectors of manufacturing. The Scheme is designed to invest in shares of those companies, which hold high potential to benefit from Manufacturing theme.
The selection of sectors that fall within the underlying theme of manufacturing would be driven primarily by the growth prospects and valuations of the businesses over a medium to long term as per the discretion of the fund manager.
Canara Robeco Manufacturing Fund’s performance will be benchmarked against S&P BSE India Manufacturing TRI
The scheme will be managed by Mr Pranav Gokhale and Mr Shridatta Bhandwaldar.
The NFO opens for subscription on February 16, 2024 and closes on March 01, 2024. The schemes will reopen for continuous sale and repurchase on March 18, 2024.
The minimum subscription amount is Rs 5,000/- and in multiples of Re.1/- thereof.
The scheme offers Regular Plan and Direct Plan each plan offers Growth option and Income Distribution cum capital withdrawal Option (IDCW).