Baroda BNP Paribas Mutual Fund announced on November 28 the launch of Baroda BNP Paribas Multi Asset Fund, an open-ended Scheme investing in equity, debt and gold ETF.
The new fund offer (NFO) opened on November 28 and will close on December 12, 2022.
"The investment objective of the scheme is to seek long-term capital growth by investing in allocation ranging for equities between 65-80%, fixed income and gold ETFs at 10-25% each, along with up to 10% in units of REITs and INVITs," the fund house said in a media release.
“The fund seeks to combine the power of equity, fixed income and gold ETF which offers a differentiated asset allocation-based portfolio strategy that aims to offer growth during the upside and protect during the downside.”
As per the fund house, the new scheme will be managed by Jitendra Sriram who has an experience of over 25 years and Vikram Pamnani who has over 12 years f experience.
The scheme will be benchmarked against a customized index comprised of 65% of Nifty 500 TRI + 20% of the Nifty Composite Debt Index and 15% of the INR (rupee) price of gold.
“Baroda BNP Paribas Multi Asset Fund provides investors with the opportunity to take exposure to an offering which is well-diversified across asset classes. It is a good investment option for first-time and seasoned investors alike, as it saves the hassle of investing, tracking and maintaining investments in multiple strategies,” said Suresh Soni, CEO of Baroda BNP Paribas Mutual Fund.
“It is also suitable for seasoned investors looking for asset class diversification and portfolio with an allocation to gold,” said Soni.
The fund aims to follow a multi-cap investment approach backed by robust research, holding around 45-55 stocks with diversified allocation across sectors.
