Baroda BNP Paribas Mutual Fund has launched its solution oriented fund focusing on retirement, Baroda BNP Paribas Retirement Fund.

It is an open-ended scheme with a lock-in period of 5 years or till the retirement age of 58, whichever is earlier. The fund is benchmarked against CRISIL Hybrid 35+65 - Aggressive Index.

Talking about the fund, Suresh Soni, CEO, Baroda BNP Paribas MF said, “As life expectancy increases, it becomes imperative to ensure that retirement years are spent with financial peace of mind. The fund aims to meet this need. Most investors start saving for retirement too late and that too in traditional options. We believe that given the long-term nature of investments, it is important that investors consider investing into capital market options like mutual funds, which have the potential to compound their savings at much better rates. We encourage everyone, especially the young generation, to start investing systematically today onwards and aim to secure their future.”

Investors can opt for lumpsum investment and/or SIP based on their age and retirement goals. The fund also allows investors to opt for Systematic Withdrawal Plan (SWP) to receive regular cashflows post-retirement.

The equity portion of Baroda BNP Paribas Retirement Fund will be managed by Pratish Krishnan while debt portion will be managed by Mayank Prakash.