The Hindu Business Line : CanEmerging Equities to invest in mid-caps

CANBANK Mutual Fund, which has come out with an open-ended equity scheme, CanEmerging Equities, has announced that the initial public offer that is now open will close on February 24.

The objective of the scheme is to generate capital appreciation by primarily investing in diversified stocks, Mr V. Ramesh Nayak, Head of Marketing, Canbank Mutual Fund, said.

The asset allocation would be made in such a way that about 65 per cent of the collection would be invested in mid-cap stocks.

These have all the potential of emerging as blue chip stocks in the future. The balance 35 per cent will be invested in present-day blue chip stocks.

With an emphasis on identifying companies with strong competitive position in good business segments, having quality management in position, and commanding low P/E ratios, the scheme will be adopting a bottom-up approach in investing. The fund house has presented a strong performance in other equity schemes like Canequity Diversified scheme and Canexpo scheme, Mr Nayak said in a statement here.

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