Mahinda Manulife Mutual Fund has launched a manufacturing fund. Mahindra Manulife Manufacturing Fund is an open-ended equity scheme that follows manufacturing themes.
Agencies
The scheme’s new fund offer or NFO is open for subscription on and closes on June 14. The scheme will reopen for continuous sale and repurchase from June 26.
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The scheme’s investment objective is to generate long-term capital appreciation by investing predominantly in equity and equity-related securities of companies engaged in manufacturing themes.
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Benchmark and fund manager
The scheme will be benchmarked against S&P BSE India Manufacturing TRI. Renjith Sivaram Radhakrishnan, Manish Lodha, and Pranav Nishith Patel will manage the scheme.
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Minimum application amount
The minimum investment amount is Rs 1,000, multiples of Re 1 thereafter. The minimum amount for additional purchase is Rs 1,000 and in multiples of Re 1 thereafter. The minimum amount per installment for weekly and monthly SIP is Rs 500 each, multiples of Re 1 thereafter with a minimum of six installments.
Agencies
The scheme will allocate 80-100% in equity and equity-related securities of companies engaged in manufacturing theme, 0-20% in equity and equity-related instruments of companies other than companies involved in manufacturing theme, 0-20% in debt and money market securities (including TREPS (Tri-Party Repo) and Reverse Repo in Government Securities), and 0-10% in units issued by REITs & InvITs.
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Exit load and expense ratio
An exit load of 0.5% is applicable if units are redeemed/switched out up to three months from the date of allotment. There will be no exit load if units are redeemed/switched out after three months from the date of allotment. The maximum total expense ratio (TER) permissible under Regulation 52 (6) (c) is upto 2.25%.
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Suitable for these investors
The scheme is suitable for investors who are looking for long-term capital appreciation and want an investment in equity and equity-related securities of companies engaged in manufacturing themes. The principal invested in the scheme will be at “very high” risk according to the risk-o-meter of the scheme.