Whalesbook
New Fund Launch
Mahindra Manulife Mutual Fund announced the launch of its new open-ended equity scheme, the Mahindra Manulife Innovation Opportunities Fund. This fund adopts an investment strategy centered on innovation across various sectors.
The New Fund Offer (NFO) period will commence on January 9 and conclude on January 23. Following this, the scheme will reopen for continuous subscription and repurchase starting February 2, according to an official statement from the fund house.
Investment Strategy
The scheme's primary objective is to invest between 80% and 100% of its assets in equity and equity-related instruments. These investments will focus on companies identified as leaders in product, process, or service innovation. An additional allocation of up to 20% may be deployed in equities outside the core innovation theme.
Furthermore, the fund retains flexibility to invest up to 20% of its net assets in foreign securities. It can also allocate up to 20% to debt and money market instruments, and up to 10% in units of infrastructure investment trusts (InvITs). Investments in real estate investment trusts (REITs) are also permitted as per regulations.
Fund Management
Kirti Dalvi and Renjith Sivaram Radhakrishnan have been appointed as the fund managers for the Mahindra Manulife Innovation Opportunities Fund. The fund house is a joint venture between Mahindra & Mahindra Financial Services and Manulife Investment Management (Singapore).