Nippon Life India Mutual Fund has launched Nippon India Flexi Cap Fund, an open ended equity scheme that will invest across market capitalization.
The fund aims to generate alpha through bottom-up stock selection and identify opportunities in potentially high growth themes, said the company.
In a press release, Saugata Chatterjee, Co-Chief Business Officer, Nippon India MF said, “Flexi Cap is one of the largest categories in the equity space. The total AUM under the newly created flexi-cap category stood at Rs 1.76 trillion as of June-end. With the fund, we aim to deliver better returns by investing in best opportunities across market caps.”
Manish Gunwani, CIO – Equity Investments, Nippon India Mutual Fund, said, “A flexi cap strategy can dynamically adapt to varied market scenarios and thus has the potential to outperform across market cycles. The current macro-economic conditions are favorable for the category as the global economy is expected to grow faster than estimated, capex cycle picking up with lower interest rates and liquidity support and earnings are also likely to improve as growth momentum picks up.”
Manish Gunwani, CIO - Equity Investments along with Dhrumil Shah, Varun Goenka & Nikhil Rungta (Co-Fund Manager), Kinjal Desai, Fund Manager – Overseas will co-manage this scheme.
