Baroda Pioneer Mutual Fund has launched the NFO Baroda Pioneer Banking & Financial Services Fund, an open ended sectoral scheme.
The investment objective of the scheme is to generate long-term capital appreciation for unit holders from a portfolio invested predominantly in equity and equity related securities of companies engaged in the Banking & Financial Services Sector.
The NFO opens for subscription on June 1, 2012 and closes on June 15, 2012. No entry load is applicable for the scheme. Exit load charge will be 1% if redeemed on or before 365 days from the date of allotment of units and nil, if redeemed after 365 days from the date of allotment of units. The scheme offers dividend payout and growth option.
The scheme will be benchmarked against CNX Bank Index. The minimum application amount is Rs 5000 and in multiple of Rs 1 thereafter.
Source: Accord Fintech
