Latest news with #VishalJajoo

Business Standard

NFO alert! Mahindra Manulife launches BFSI focused fund; check details here

NFO Alert! Mahindra Manulife Mutual Fund, a joint venture between Mahindra & Mahindra Financial Services (Mahindra Finance) and Manulife Investment Management (Singapore), has announced the launch of the Mahindra Manulife Banking and Financial Services Fund. This open-ended equity scheme aims to provide long-term capital appreciation by investing predominantly in a portfolio of equity and equity-related securities of companies engaged in banking & financial services activities, according to the Scheme Information Document (SID). Mahindra Manulife Banking and Financial Services Fund's Krishna Sanghavi, CIO – equity, Mahindra Manulife Investment Management, said, "The fund aims to build a diversified portfolio that captures the full potential of the BFSI ecosystem from traditional leaders like banks and insurers to emerging players driving innovation in how India saves, borrows, invests, and transacts, with a disciplined focus on fundamentals and valuations.' Banking, he added, remains a strong pillar of India's financial landscape, but the opportunity extends much further. The fund will be managed by Vishal Jajoo and Chetan Sanjay Gindodia. The New Fund Offer (NFO), which opened today, will remain available till July 11, 2025. Mahindra Manulife Banking and Financial Services Fund will reopen for continuous sale and repurchase from July 21, 2025. Mahindra Manulife Banking and Financial Services Fund is offered at ₹10 per unit each during the NFO and continuous offer for units at NAV-based prices. During the NFO, the minimum application amount is ₹1,000 and in multiples of ₹1 thereafter. The minimum amount for switch-in is ₹1,000 and in multiples of ₹0.01 thereafter. The Mahindra Manulife Banking and Financial Services Fund is benchmarked against Nifty Financial Services TRI (First Tier Benchmark). The risk for the NFO as well as the benchmark remains very high, reads the SID. Who should invest in Mahindra Manulife Banking and Financial Services Fund NFO? According to the SID, Mahindra Manulife Banking and Financial Services Fund is suitable for long-term capital appreciation as well as for investment predominantly in a portfolio of equity and equity-related securities of companies engaged in banking & financial services activities. "Investors should consult their financial advisers if in doubt about whether the product is suitable for them," cautioned the SID.