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Bandhan Mutual Fund has filed offer document with SEBI to launch open-ended equity scheme named ‘Bandhan Innovation Fund‘. The offer rate is Rs 10 per unit. Exit load will be nil. Exit load if redeemed/switched out within 30 days from the date of allotment will be 0.50% of the applicable NAV; while if redeemed/switched out after 30 days from date of allotment will be nil. The Scheme offers Growth Option and Income Distribution Cum Capital Withdrawal Option for investment and minimum target subscription amount for the Scheme to be raised is Rs 10 crore.

The performance of the scheme will be benchmarked by NIFTY 500 TRI. The minimum application amount is Rs 1,000 and any amount thereafter.

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