| Mahindra Mutual Fund has launched a new fund named as Mahindra Top 250 Nivesh Yojana, an open ended equity scheme investing in both large cap and mid cap stocks. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 06 December to 20 December 2019.
The investment objective of the Scheme is to seek long term capital growth through investments in equity and equity related securities of both large cap and mid cap stocks.
The scheme offers growth option, dividend option; dividend option will have dividend payout and dividend reinvestment facility.
The scheme would allocate 80%-100% of assets in Equity and Equity Related Securities with medium to high risk profile, invest 35%-65% of assets in Large Cap Companies with medium to high risk profile, invest 35%-65% of assets in Mid Cap Companies with medium to high risk profile, invest upto 30% of assets in Other than Large Cap and Mid Cap Companies with medium to high risk profile, invest upto 20% of assets in Debt and Money Market Securities (including TREPS (Tri-Party Repo), Reverse Repo) with low to medium risk profile and upto 10% of assets in Units issued by REITs & InvITs with medium to high risk profile.
The minimum application amount is Rs 1000 and in multiples of Re. 1/- thereafter.
The minimum additional amount is Rs 1000 and in multiples of Re. 1/- thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period.
Entry load: Not Applicable.
Exit load: An Exit Load of 1% is payable if Units are redeemed / switched-out upto 1 year from the date of allotment;
Nil if Units are redeemed / switched-out after 1 year from the date of allotment.
The Scheme performance would be benchmarked against NIFTY LargeMidcap 250 TRI Index.
The fund manager of the scheme is V Balasubramanian.
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