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Bandhan Mutual Fund (MF) has launched Bandhan Financial Services Fund, an open-ended equity scheme investing in Financial Services Sector. The NFO opens for subscription on July 10, 2023 and closes on July 24, 2023. The Entry load is not applicable for the scheme. The Exit load will be 1% of applicable NAV, if redeemed/switched out within 1 year from the date of allotment and nil, if redeemed/switched out after 1 year from the date of allotment. The minimum subscription amount is Rs 1,000 and in multiples of Re 1 thereafter.

The performance of the scheme will be benchmarked against Nifty Financial Services TRI Index and its fund managers are Sumit Agarwal & Manish Gunwani (equity portion), Harshal Joshi (debt portion) and Nishita Shah will be managing overseas investment portion of the scheme.

The investment objective of the scheme is to generate long-term capital appreciation by investing predominantly in equity and equity related instruments of companies engaged in financial services.