Bank of India Mutual Fund Introduces New Multi-Asset Allocation Fund: Discover the Details Here
Discovering new NFOs? Dive into their goals, allocation strategies, managers, and peer comparisons for a comprehensive insight.
Introducing the Bank of India Multi Asset Allocation Fund, a fresh open-ended fund launched on February 7th, 2024. Its objective? Long-term capital growth through a blend of equity, debt, and gold investments. With a minimum investment requirement of Rs 5,000, it also offers indexation benefits for tax purposes. While there's no exit load after the first year, a 1 per cent charge applies for redeeming over 10 per cent of your initial units within the initial year. It's important to note that this fund doesn't ensure any returns and comes with a "Very High" risk rating. Before diving in, carefully consider your investment objectives and risk tolerance.
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Investment Objective
The investment objective of the scheme is to seek long-term capital growth by predominantly investing in equity and equity related securities, debt & money market instruments and Gold ETF.
Risk-o-meter – Scheme: High Risk, Benchmark: High Risk
Funds Allocation
|
Instruments
|
Indicative allocation (Per cent of total assets) (Minimum - Maximum)
|
Risk Profile
|
|
Equity & equity related instruments
|
35 to 40
|
Very High
|
|
Debt and Money Market instruments
|
45 to 55
|
Low to Medium
|
|
Gold ETF
|
10 to 15
|
High
|
|
Units issued by REITs and INVITS
|
0 to 10
|
Not Specified
|
Money market instruments encompass various financial instruments such as commercial papers, commercial bills, treasury bills, government securities with a maturity of up to one year, call or notice money, certificates of deposit, usance bills, and similar instruments as designated by the Reserve Bank of India periodically.
Benchmark
The scheme's performance will be compared against a benchmark comprising 37.50 per cent of Nifty 500 TRI, 50 per cent of NIFTY Composite Debt Index, and 12.50 per cent of Domestic Prices of Gold. The Nifty large-Midcap 250 index combines the Nifty Midcap 150 and Nifty 100 indexes, representing a blend of midcap and Large-Cap stocks listed on the NSE. This blend is adjusted quarterly, with each category comprising 50 per cent of the index weight.
Fund Managers
Mr. Alok Singh (Chief Investment Officer) Age: 46 years, Qualification: B.Com, PGDBA and CFA, Around 21 years of Experience including 16 years in Mutual Fund industries.
Mr. Mithraem Bharucha (Fund Manager), Age: 40 years, Qualification: BMS, MBA and MCOM Part I, Over 15 years of experience in Fixed Income market domain, Investment strategy development, Trade idea generation, Trade execution, Cash Management, Fixed Income portfolio monitoring, Cash flow verification.
Peer Funds
|
Scheme Name
|
AuM (Cr)
|
1Y
|
2Y
|
3Y
|
5Y
|
|
Quant Multi Asset Fund - Direct Plan - Growth
|
1,455.83
|
39%
|
22%
|
34%
|
28%
|
|
UTI Multi Asset Allocation Fund - Direct Plan - Growth
|
1,152.38
|
36%
|
20%
|
16%
|
14%
|
|
HDFC Multi-Asset Fund - Direct Plan - Growth
|
2,405.89
|
22%
|
14%
|
14%
|
16%
|
|
Tata Multi Asset Opportunities Fund - Direct Plan - Growth
|
2,380.74
|
24%
|
15%
|
16%
|
-
|
|
Axis Multi Asset Allocation Fund - Direct Plan - Growth
|
1,204.17
|
15%
|
6%
|
9%
|
14%
|
|
Nippon India Multi Asset Fund - Direct Plan - Growth
|
2,543.08
|
25%
|
15%
|
14%
|
-
|
|
ICICI Prudential Multi-Asset Fund - Direct Plan - Growth
|
32,831.03
|
28%
|
19%
|
24%
|
21%
|
|
SBI Multi Asset Allocation Fund - Direct Plan - Growth
|
3,626.55
|
28%
|
16%
|
15%
|
15%
|
|
Motilal Oswal Multi Asset Fund - Direct Plan - Growth
|
102.63
|
16%
|
9%
|
8%
|
-
|
Data recorded on February 14th, 2024
Disclaimer: The article is for informational purposes only and not investment advice.