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Mahindra Manulife Mutual Fund (MF) has launched the Mahindra Manulife Balanced Advantage Yojana, an open-ended dynamic asset allocation fund. The NFO opens for subscription on December 09, 2021 and closes on December 23, 2021. The Entry load is not applicable for the scheme. There will be no exit load, if 10% of the units allotted shall be redeemed on or before completion of 3 months from the date of allotment of Units. Any redemption in excess of the above limit shall be subject to the following exit load: An Exit Load of 0.5% is payable if Units are redeemed / switched-out on or before completion of 3 months from the date of allotment of Units and nil, if Units are redeemed / switched-out after completion of 3 months from the date of allotment of Units. The minimum subscription amount is Rs 1,000 and in multiples of Rs 1 thereafter.

The Scheme performance would be benchmarked against the Nifty 50 Hybrid Composite Debt 50: 50 Index TRI and its fund managers are Manish Lodha, Fatema Pacha and Rahul Pal.

The investment objective of the Scheme is to provide capital appreciation and generate income through a dynamic mix of equity, debt and money market instruments and seeks to reduce the volatility by diversifying the assets across equity, debt and money market instruments.