Canara Robeco Mutual Fund, one of the leading asset management companies in India, on Friday announced the launch of Canara Robeco Mid Cap Fund, an open-ended equity scheme which would predominantly invest in equity and equity-related instruments of mid cap companies, with the objective of generating capital appreciation over a longer term of five years and above.
Canara Robeco Mid Cap Fund’s New Fund Offer opened on November 11, 2022 and will close on Friday, November 25, 2022.
The scheme may invest at up to 35 per cent in debt and money money market instruments and up to 35 per cent in equity, equity related instruments of companies other than mid cap companies and up to a maximum of 10 per cent in units issued by REITs and InvITs.
Canara Robeco Mid Cap Fund during the NFO period would allow lumpsum investments of a minimum of Rs 5,000 and it will take investments via STP, SIP and SWP after the NFO period.
As a fund house, while Canara Robeco Mutual Fund’s ethos is to invest in robust growth-oriented businesses, with competent management and a reasonable valuation, Canara Robeco Mid Cap Fund aims to invest in mid cap companies that are at the confluence of industry growth, company growth and management pedigree.
Speaking on the occasion, Mr. Rajnish Narula, MD & CEO, said: “Canara Robeco Mid Cap Fund would offer an attractive opportunity to create wealth over the long term through both the lumpsum and SIP mode of investment. Mutual fund investors who are comfortable displaying patience to ride market volatility, keeping an investment horizon of over five years, may benefit from risk adjusted returns.”
Mr. Ajay Khandelwal and Mr. Shridatta Bhandwaldar are the fund managers for this scheme.
The fund house had sought approval from the Securities and Exchange Board of India for the fund on September 23.