Fund launches Financial News

NJ Mutual Fund has launched NJ Flexi Cap Fund, an open-ended equity scheme that will invest across large cap, mid cap, small cap stocks. The new fund offer or NFO of the scheme is open for subscription and will close on August 29. The scheme will reopen within five business days from the date of allotment. The investment objective of the scheme is to generate long term capital appreciation by investing in equity and equity-related instruments across market capitalizations.

The Bitcoin Frontier Fund, formerly Stacks Ventures, launched what it’s calling the first Bitcoin Ordinals accelerator program on Aug. 14.

Nippon India Mutual Fund has announced the launch of Nippon India Innovation Fund, an open-ended equity scheme that will invest in innovation themes. The new fund offer of the scheme will open for subscription on August 9, and it will close on August 23. The performance of the scheme will be benchmarked against Nifty 500 TRI. The scheme will be managed by Vinay Sharma, and Kinjal Desai (overseas investment).

Nippon Life India Asset Management Limited (NAM India) asset manager of Nippon India Mutual Fund (NIMF), launched Nippon India Innovation Fund (An open-ended equity scheme investing in innovation theme). “Over the next 20 years India is likely to witness significant investment in Innovation and R&D (Research & Development). The need for creating differentiation through innovation is a key growth driver for the long-term success of any business.

Kotak Mutual Fund has launched Kotak S&P BSE Housing Index Fund, an open-ended scheme replicating/tracking S&P BSE Housing Index. The new fund offer of the scheme is open for subscription and will close on August 21. The scheme will re-open for continuous sale and repurchase within five business days from the date of allotment units on or before. The scheme will be benchmarked against S&P BSE Housing Index (Total Return Index). The scheme will be managed by Devender Singhal, Satish Dondapati, and Abhishek Bisen.

HDFC Mutual Fund has launched HDFC Transportation and Logistics Fund, which will invest in companies that are at the forefront of transportation and logistics sector. It aims to capitalize on a wide array of opportunities across automotive, shipping & ports, railways, airports & airlines, e-commerce, road/rails/air cargo, supply chain/warehousing etc under the transportation and logistics theme. The scheme will be managed by Priya Ranjan. “At HDFC Mutual Fund, we have always endeavored to be a one-stop solution for varied financial goals and have delivered a wide array of opportunities through our diverse product bouquet. HDFC Transportation and Logistics Fund becomes the latest spoke in our product offering wheel,” said Navneet Munot, Managing Director and Chief Executive Officer, HDFC Asset Management Company.

Mirae Asset Mutual Fund has launched Mirae Asset Multicap Fund, an open-ended equity scheme that will invest across large cap, mid cap and small cap stocks. The benchmark for the fund will be the NIFTY 500 Multicap 50:25:25 TRI. The scheme will be managed by — Ankit Jain. The New Fund Offer — is open for subscription and it will close on August 11.

HDFC mutual fund has launched the HDFC Charity Fund for Cancer Cure, a fixed maturity scheme launched in collaboration with the Indian Cancer Society (ICS) to contribute to the treatment of underprivileged cancer patients. The scheme will have a tenure of 1,196 days. The NFO is currently open for subscription and it will close on August 8. “The Scheme enables investors to donate part of the income generated to the Indian Cancer Society to support the treatment of underprivileged cancer patients. The noble mission is to make a meaningful impact on the lives of those fighting this formidable battle. Together, as we invest in both financial growth and human well-being, we can create a future where hope and healing become accessible to all,” said Navneet Munot, Managing Director and Chief Executive Officer, HDFC Asset Management Company.

UTI Mutual Fund has launched UTI Balanced Advantage Fund, an open-ended dynamic asset allocation fund, investing in a diversified portfolio of equity and fixed income. The portfolio of the scheme will be dynamically managed, based on valuation and fundamentals driven by in-house proprietary asset allocation model. The New Fund Offer opens for subscription today and it will close on August 4. The scheme aims to provide long-term capital appreciation and income by investing in a dynamically managed portfolio of equity and debt instruments. However, there can be no assurance that the investment objective of the scheme will be achieved. The scheme does not guarantee/ indicate any returns.

Canara Robeco Mutual Fund has launched Canara Robeco Multi Cap fund, an open-ended equity scheme investing across large cap, mid cap, small cap stocks. The new fund offer of the scheme is open for subscription and will close on July 21. The scheme will reopen for subscriptions / redemptions, within five business days from the date of allotment, which is on or before August 4. The performance of the scheme will be benchmarked against Nifty 500 Multicap 50:25:25 Index TRI. The scheme will be managed by Shridatta Bhandwaldar and Vishal Mishra.

Mutual Fund on Tuesday launched an open-ended equity scheme, Bandhan Financial Services Fund. This new scheme offers investors the opportunity to benefit from the multi-year growth opportunities in the financial services sector.

Bandhan Mutual Fund has announced the launch of the Bandhan Financial Services Fund, an open-ended equity scheme, that allows investors to benefit from the multi-year growth opportunities in the financial services sector. The New Fund Offer will open for subscription on July 10 and will close on July 24. “A significant portion of India’s economic growth is fueled by the financial services sector. Powerful enablers like increasing financial inclusion, growing digitization, and the relatively stronger balance sheet of banks and NBFCs provide visibility for strong earnings growth for this sector. It has been a key driver of returns for the capital market with the Financial Services Index growing 18X since inception compared to 10X for the Nifty 500 Index,” said Vishal Kapoor, CEO, Bandhan AMC. “The Bandhan Financial Services Fund will go beyond the traditional Banking sector by diversifying further with investments in Capital Markets, NBFCs, Insurance, and Fintech as well, providing investors with an opportunity to benefit from India’s long-term growth story,” added Kapoor.

Amid soaring global inflation and sinking equity markets suppressing new business in financial services, the hedge fund sector similarly took a hit launching only 71 new funds over the third quarter of 2022.

 The fund, to be managed by the Public Investment Fund (PIF)  is designed to boost the region's burgeoning tech and telecoms industries.

 The fund, to be managed by the Public Investment Fund (PIF)  is designed to boost the region's burgeoning tech and telecoms industries.

Plunging equity markets, rising inflation, and macroeconomic uncertainty contributed to a decline in new hedge fund launches in the second quarter, and the trend hasn't reversed in the last three months.

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Axis Mutual Fund today announced the launch of their new fund offer – ‘Axis Multicap Fund’. The fund is set to open on November 26, 2021, and will close on 10th December 2021. The NFO will provide investors with an opportunity to invest in large, mid, and small-cap stocks with minimum equal exposure across each category. The scheme will be managed by Anupam Tiwari and Sachin Jain, Fund Manager, Axis Asset Management Company Limited (Axis AMC).

Axis Mutual Fund has announced the launch of Axis Nifty 50 Index Fund, which will be open for subscription from 15th November 2021 till 29th November 2021. The Nifty 50 Index Fund is an open-ended scheme that will track the Nifty 50 Index TRI and allow investors to passively participate in the large-cap universe.