Tata Mutual Fund has launched Tata Multicap Fund, an open-ended equity scheme investing across large cap, mid cap and small cap stocks. The NFO will open from August 17, 2018 and close on August 31, 2018.
With no restriction towards any market cap, the investment strategy of the fund would be to invest in opportunities across sectors and market cap in line with the fund manager's conviction. The fund will follow blend of both 'value' and 'growth' style of investing to align the portfolio depending upon market environment & opportunities.
Sonam Udasi who currently manages the Tata Equity P/E Fund, Tata India Consumer Fund and Tata Retirement Savings among other funds will manage the fund.
In a press release, Prathit Bhobe, Chief Executive Officer & Managing Director, Tata Asset Management said, "A multi-cap fund has a much larger universe to invest. Also in volatile markets, the ability to move across market caps at the opportune moment may give these funds an edge."
In another development, BNP Paribas Mutual Fund announced the NFO of BNP Paribas India Consumption Fund. This open-ended equity fund seeks to generate capital appreciation and provide long-term growth opportunities by investing in companies that are expected to benefit from the growing consumption needs of Indian consumers. The NFO is available for subscription from August 17 to August 31, 2018.
The scheme will invest in sectors such as auto, banks, cements, construction (real estate), consumer durables/non-durables, fertilizers, finance, gas (consumer oriented gas distribution), healthcare services, hotels, media & entertainment, pesticides, pharmaceuticals, retailing, telecom services, textile products and related value chain businesses.
Commenting on the fund, Sharad Sharma, Managing Director and CEO said, “India has a large and growing consumer market backed by over one billion consumers across income segments. Rising household income, urbanization, the decline in the traditional joint–family structure are some of the key contributors to this growth. Individuals today are also consuming more compared to a decade ago; and this changing consumption pattern is expected to benefit targeted sectors and companies that cater to these needs.”