The Hindu Business Line : ABN AMRO multi-manager fund launched

The investment objective of the fund is to provide long-term capital appreciation by investing in a portfolio of equity schemes and liquid/short-term/floating rate schemes of mutual funds.

"The dynamic asset allocation strategy is aimed at providing investors with participation in the upside of equity markets while reducing equity exposure in falling markets. It is suitable for a wide variety of investors," said Mr Nikhil Johri, ABN AMRO Asset Mangement (I) Ltd.

The dynamic asset allocation will follow a formula involving a floor, the target value of the scheme at any given time. `Cushion' will be the excess of the portfolio over the floor determining the equity exposure the portfolio will be allowed at any point of time. The target equity allocation for the fund will be a product of the cushion and multiplier, where the multiplier is four. The remaining portion will be in debt.

The fund will invest in most liquid mutual funds and the rebalancing of portfolio will be done every week.

The new fund offer opens on October 30 and closes on November 28. It is a close-ended fund, but offers an option to redeem units at applicable NAV during the specified liquidity window every month. The scheme offers Regular Plan and Dividend Re-investment options.

The fund is benchmarked against the Crisil MIP Blended Index.

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