Canara Robeco Mutual Fund, India’s second oldest mutual fund, has launched the Canara Robeco Manufacturing Fund, an open-ended equity scheme aimed at leveraging India’s potential as a manufacturing hub, and will be benchmarked against the S&P BSE India Manufacturing TRI. The NFO, opens on February 16, 2024, and offers a medium to provide a dedicated allocation to the manufacturing sector. The NFO will remain open until March 01, 2024.
This fund is suitable for investors with a high-risk appetite, a 5-year investment horizon, and lower near-term liquidity needs, who prefer volatility and better risk-return tradeoffs. The fund will invest minimum 80% into manufacturing &allied stocks, 0-20% in equity and equity-related Instruments of companies other than engaged in manufacturing theme, 0-20% in debt and debt market instruments and 0-10% in units issued by REITs and InvITs.
The minimum investment in the fund is Rs. 5,000 and in multiplies of Re. 1 thereafter.The fund managers for this fund are Pranav Gokhale, Sr. Fund Manager and Shridatta Bhandwaldar, Head Equities, Canara Robeco AMC. Shridatta Bhandwaldar, Head Equities, Canara Robeco asserted, “The fund will adopt a growth strategy aiming to capitalize on manufacturing trends and opportunities, investing across relevant sectors, representing the manufacturing theme.”