New fund offers from Tata AMC, BNP Paribas open today

Our Bureau Mumbai | Updated on August 17, 2018 Published on August 16, 2018

NFOs of both fund houses open today

Tata Asset Management has launched Tata Multicap Fund, an open-ended equity scheme investing across large-, mid- and small-cap stocks. The issue will be open between August 17 and 31. The minimum investment is ₹5,000 during the offer period. Thereafter, the scheme will re-open for continuous sale and repurchase after allotment.

With no restriction towards any market cap, the investment strategy of the fund would be to invest in opportunities across sectors and market caps. It will follow a blend of both ‘Value’ and ‘Growth’ style of investing to suitably align the portfolio depending on the market environment and opportunities, said the fund house in a statement.

The fund will be managed by Sonam Udasi who currently manages the Tata Equity P/E Fund, Tata India Consumer Fund and Tata Retirement Savings, among others.

Udasi said, “Given the current macro scenario such as global trade war between large economies, surging oil prices, an uncertain domestic political environment and the recent SEBI reclassification norms for mutual funds, it is the right strategy to participate in multi-cap theme, which intends to generate higher returns at comparable risks over a longer period of time.”

BNP Paribas offer

BNP Paribas AMC has announced a new fund offer — BNP Paribas India Consumption Fund. The open-ended equity fund seeks to generate capital appreciation and provide long-term growth opportunities by investing in firms that are expected to benefit from the growing consumption needs of Indian consumers. The NFO is available for subscription between August 17 and 31. The scheme will invest in sectors such as auto, banks, cement, construction (real estate), consumer durables/non-durables, fertiliser, finance, gas (consumer-oriented gas distribution), healthcare services, hotels, media & entertainment, pesticides, pharmaceuticals, retailing, telecom services, textile products and related value chain businesses.

Sharad Sharma, MD, said rising household income, urbanisation, and decline in the traditional joint family structure are some of the key contributors to this growth.

BNP Paribas India Consumption Fund will re-open for ongoing subscriptions within five business days from the date of allotment.

Published on August 16, 2018

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