NFO Alert: Baroda BNP Paribas Mutual Fund launches Baroda BNP Paribas Innovation Fund; all you need to know
innovation theme. Innovation extends beyond the realm of technology, encompassing various fields. The innovation landscape in India is flourishing, driven by increasing per capita GDP, shifting consumer behaviours, a growing youth demographic, changing consumer preferences, and robust government initiatives.
Key drivers of this momentum include the adoption of cleaner technology, widespread internet accessibility, and the prevalence of smartphone usage. India's prowess in innovation is evident not only in the technological sphere but also in diverse sectors like manufacturing and space exploration, as demonstrated by successful ventures such as Chandrayaan and Vande Bharat. The investment objective of the scheme is to seek long-term capital appreciation by investing at least 80% of its net assets in equity/equity-related instruments of companies focusing on and benefitting from innovation.
However, there is no assurance or guarantee that the investment objective of the scheme will be achieved. Commenting on the NFO launch, Suresh Soni CEO, Baroda BNP Paribas AMC, said, “Innovation is the spark that inspires change. The Baroda BNP Paribas Innovation Fund aims to back the disrupters and the brave creators building revolutionary paths with cutting-edge technologies.
The fund will pick companies that are poised to transform industries and capitalise on shifting market trends. By supporting a diverse mix of legacy enterprises, digital natives, and transformers, the fund will strategically invest in firms that thrive on innovation across several sectors and market caps." Investors can invest under the scheme with a minimum investment of ₹5000 per plan/option and in multiples of Re 1. There is no upper limit for investment.
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