Canara Robeco Mutual Fund’s assets under management to hit ₹1 lakh crore: Report
₹1 lakh crore in March from ₹80,000 crore as of December-end on the back of buoyancy in the equity market and increased fund flow, reported Business Line. Rajnish Narula, CEO, Canara Robeco MF, said the industry is poised for a steady growth for the next five years given the overall bullish sentiment in the equity market and enabling government policies that have ensured all segments of the economy participate in India’s $5 trillion GDP target. The steady inflows into the mutual fund house is a reflection of investors’ faith in the industry and Canara Robeco will hit the milestone of achieving ₹1-lakh crore-mark by end of this March, he said while launching New Fund Offer of Manufacturing Fund.
Canara Robeco Manufacturing Fund attempts to capitalise on India’s potential to become the next manufacturing hub. The thematic fund will have a portfolio of 40-60 stocks from shortlisted 227 stocks. The fund will be benchmarked to S&P BSE India Manufacturing TRI.
It will open for investment on March 1. Narula said the fund will be suitable for established investors because of the thriving domestic demand, favourable policy reforms, robust and deleverage corporate balance sheet and a stable political environment. India seems to be well positioned to become an attractive investment destination.
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