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Mutual Fund NFO: Asset management company Baroda BNP Paribas Mutual Fund (Baroda BNP Paribas Mutual Fund) has launched Baroda BNP Paribas Innovation Fund (Baroda BNP Paribas Innovation Fund). It is an open-ended equity scheme investing in innovation themes. The fund aims to provide opportunities for fast-growing innovative companies to capitalize on their growth.
The NFO is open from February 14 and will close on February 28, 2024.
Suresh Soni, CEO, Baroda BNP Paribas AMC, said – Baroda BNP Paribas Innovation Fund aims to select leading companies with cutting-edge technologies in their sectors that are poised to disrupt industries and take advantage of changing markets. Supporting a diverse mix of legacy companies, digital adopters and transformers, the fund will strategically invest in businesses that are driving innovation across sectors and across different market cap categories.
According to the asset management company, a minimum investment of Rs 1000 and thereafter in multiples of Re 1 can be made in this scheme. Its benchmark index is Nifty 500 TRI. In this, daily, weekly and monthly SIP is minimum Rs 500. There is no limit on investment in this. Its fund manager is Pratish Krishnan. He has 23 years of experience.
According to AMC, this fund has identified three categories of innovative companies. Companies that are early digital adopters are growing rapidly and leading the way in innovation. Other transformers are companies that supply equipment, technology, and information to innovative companies. Third, older companies have larger businesses that adopt technology at an early stage and evolve to innovate in response to changing market conditions.