Mumbai, Aug 6 (UNI) Nippon Life India Asset Management Limited , Asset Manager of Nippon India Mutual Fund (NIMF), announces the launch of the Nippon India Multi-Asset Fund (NIMAF).
It is an open-ended scheme looking at providing one stop solution which may help to reap the benefit of Growth of Equity, Stability of Debt & Diversification from Commodities.
The primary investment objective of Nippon India Multi Asset Fund is to seek long term capital growth by investing in equity and equity related securities, debt & money market instruments and Exchange Traded Commodity Derivatives and Gold ETF as permitted by SEBI from time to time.
The fund will invest 50 percent of its assets in Indian equities, 20 percent in international equities, 15 percent in commodities and the remaining in Debt & Money Market Instruments.*
The New Fund Offer (NFO) opens for dsubscription on August 7, 2020 and closes on August 21, 2020. The minimum investment required is Rs 5,000 and in multiples of Re 1 thereafter.
The fund will be managed by Manish Gunwani, CIO - Equity Investments along with Ashutosh Bhargava, Fund Manager & Head Equity Research, Kinjal Desai, Fund Manager - Overseas; Amit Tripathi CIO - Fixed Income and Vikram Dhawan Head - Commodities.
Speaking on the launch, Saugata Chatterjee, Co-Chief Business Officer, Nippon India Mutual Fund said, "Asset Allocation is the key to long term wealth creation. Over the last decade, we have seen divergent returns among asset classes and hence have different levels of risk. Nippon India Multi-Asset Fund aims to provide a one-stop solution to investors looking to have a diversified and balanced portfolio. Our fund investment strategy consists of asset allocation beyond domestic equity & debt and covers international equities and commodities which are important asset classes for diversification and long-term wealth creation".
Manish Gunwani, CIO-Equities, added, "Investors tend to have a home-bias and invest mainly in domestic equities. We believe it is important for investors to have a foot in every major investible asset classes, including international equities and commodities, which could help them balance returns across cycles".
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