Canara Robeco Mutual Fund, India’s second oldest mutual fund announced the launch of Canara Robeco Manufacturing Fund in an attempt to capitalize on India’s potential to become the next manufacturing hub. The fund is an open-ended equity scheme that represents India’s manufacturing theme 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.
The fund managers for this fund are Pranav Gokhale, Sr. Fund Manager, and Shridatta Bhandwaldar, Head Equities at Canara Robeco AMC. This fund is suitable for investors comfortable with volatility and expecting a better risk-return tradeoff, with a high-risk appetite and a long-term investment horizon of 5 years and above, having lower near-term liquidity needs.
The fund aims to invest 80% in manufacturing and allied stocks, with a 0%-20% equity and equity-related instruments of non-manufacturing companies, 0%-20% debt and debt market instruments, and 0%-10% units issued by REITs and InvITs. The minimum investment in the fund is Rs. 5,000 and in multiplies of Re. 1 thereafter. 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.”
