Canara Robeco Mutual Fund has unveiled its latest offering, the Canara Robeco Manufacturing Fund, aimed at harnessing the potential of India’s burgeoning manufacturing landscape. Scheduled to open on February 16, 2024, the New Fund Offering (NFO) will continue until March 01, 2024. With a keen focus on the manufacturing theme, the open-ended equity scheme is strategically aligned with India’s ambition to emerge as a global manufacturing powerhouse. The fund will be benchmarked against the S&P BSE India Manufacturing TRI.
Rajnish Narula, CEO of Canara Robeco Mutual Fund, highlighted the opportune timing of the launch, citing India’s rising middle class and favorable demographics. “The Canara Robeco Manufacturing Fund aims to leverage India’s robust domestic demand, bolstered by policy reforms such as Atmanirbhar Bharat, PLI, and Make in India,” he stated. Shridatta Bhandwaldar, Head Equities at Canara Robeco, emphasized the fund’s growth-oriented strategy, aiming to capitalize on evolving manufacturing trends. Bhandwaldar noted, “This fund offers investors the opportunity to participate in India’s manufacturing growth story, targeting sectors poised for expansion.”
Investors with a high-risk appetite and a long-term investment horizon of five years or more are seen as the primary beneficiaries of this fund. The fund will allocate a minimum of 80% to manufacturing and allied stocks, with additional diversification across equity, debt, and REITs/InvITs. The Canara Robeco Manufacturing Fund will be managed by Pranav Gokhale, Senior Fund Manager, along with Shridatta Bhandwaldar, Head Equities, at Canara Robeco AMC. The minimum investment in the fund is set at Rs. 5,000, with subsequent investments in multiples of Re. 1.
