The new fund offer opens for
subscription on November 14 and closes on November 28.
More AMCs are
rushing to launch closed end equity funds. After DSP BlackRock, Canara Robeco too
has announced the launch of its three year closed end fund called Canara Robeco
India Opportunities Fund.
Like most other
closed end funds which are betting on small and mid-cap stocks, Canara Robeco
India Opportunties Fund will invest 65% of its assets in mid and small cap
stocks, 10% in large cap, up to 5% in micro-cap and up to 25% in debt.
In a press statement, Rajnish Narula, Chief Executive Officer, Canara Robeco Asset Management said “The expectation of an early economic recovery has propelled the country’s bellwether indices, the Sensex and Nifty, to new highs. We strongly believe that India is all set for a secular macro-economic recovery over the next couple of years. Canara Robeco India Opportunities Fund has been launched with the goal to offer investors the possibility to benefit from prevailing attractive growth opportunities in mid- and small-cap equities.
Elaborating on the NFO, Ravi Gopalakrishnan, Head Equities, Canara Robeco Asset Management said
“This fund focuses on high conviction stocks by following the growth at
reasonable price investing philosophy. Canara Robeco’s India Opportunity Fund
will be best suited for those having a three year investment horizon to reap
the benefits from the full realization of the current high growth prospects of
Indian companies.”
The NFO opens on
November 14 and closes on November 28. Benchmarked against CNX Midcap Index,
the fund will be managed by Ravi Ravi Gopalakrishnan.
Canara Robeco Mutual Fund manages AUM of Rs. 8,785 crore as on September 2014.
