Bank of India introduces multi asset allocation fund
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Bank of India Mutual Fund has launched Bank of India Multi Asset Allocation Fund, an open-ended scheme investing in Equity, Debt and Gold ETF. The NFO opens for subscription on February 7, 2024 and closes on February 21, 2024. No entry load will be applicable for the scheme. Exit Load will be nil for redemption/ switch out up to 10% of the initial units allotted within 1 year from the date of allotment. Any redemption/switch out in excess of the above-mentioned limit would be subject to an exit load of 1%, if the units are redeemed/switched out within 1 year from the date of allotment of units. Exit Load will be nil if the units are redeemed/ switched out after 1 year from the date of allotment of units. The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter.
The performance of the scheme will be benchmarked against 37.50% of Nifty 500 TRI + 50% of Nifty Composite Debt Index + 12.50% of Domestic Prices of Gold and its fund managers are Alok Singh & Mithraem Bharucha.
The investment objective of the Scheme is to seek long term capital growth by predominantly investing in equity and equity related securities, debt & money market instruments and Gold ETF.
