Samco Mutual Fund appoints new fund managers for Dynamic Asset Allocation Fund and Samco Overnight Fund

Samco Mutual Fund has announced a change in the fund managers for two of its funds, effective April 2, 2024.

Samco Mutual Fund has announced a change in the fund managers for two of its funds, effective April 2, 2024. In the Samco Overnight Fund, Dhawal Ghanshyam Dhanani and Umeshkumar Mehta will take over from Abhiroop Mukherjee and Dhawal Ghanshyam Dhanani. Similarly, in the Samco Dynamic Asset Allocation Fund, Umeshkumar Mehta and Paras Matalia will replace Abhiroop Mukherjee, Umeshkumar Mehta, and Paras Matalia as the fund managers. These changes aim to bring fresh perspectives and expertise to better manage the funds and meet investors' expectations.

Samco Overnight Fund - Regular Plan

The Samco Overnight Fund, launched on October 5, 2022, by Samco Mutual Fund, falls under the Debt: Overnight category. Its Growth Option, Regular Plan, boasts a low Total Expense Ratio (TER) of 0.3% as of February 29, 2024. This open-ended scheme requires a minimum investment of 5,000 and allows top-ups of at least 500. With total assets amounting to 83.63 crore as of February 29, 2024, it operates with a nil exit load.

The latest Net Asset Value (NAV) as of April 2, 2024, stands at 1095.4976. Since its inception, it has achieved a Compound Annual Growth Rate (CAGR) of 6.31 per cent, closely tracking its benchmark, the CRISIL Overnight Fund AI Index, which stands at 6.35 per cent.

Also Read: Mirae Asset Mutual Fund appoints new fund managers for their key schemes

Samco Dynamic Asset Allocation Fund - Regular Plan

The Samco Dynamic Asset Allocation Fund - Regular Plan maintains a current NAV of Rs 10.16 for its Growth option as of April 02, 2024. However, the fund falls behind its category returns significantly: 24.95 per cent (1yr), 12.47 per cent (3yr), and 11.58 per cent (5yr). Despite this, the fund manages a substantial asset base of Rs 581.29 crore as of February 29, 2024.

Investors should note its expense ratio of 2.32 per cent (as of Mar 22, 2024), impacting potential gains. Additionally, there's an exit load applicable for redemptions within 12 months, set at 1 per cent for units exceeding 25 per cent of the investment. Minimum investment requirements stand at Rs 5000, with additional investments and SIPs requiring Rs 500 and Rs 500 respectively. Consider these factors carefully before investing.

Disclaimer: The article is for informational purposes only and not investment advice.