Baroda BNP Paribas MF introduces Innovation Fund
Baroda BNP Paribas Mutual Fund (MF) has launched Baroda BNP Paribas Innovation Fund, an open-ended equity scheme investing in innovation theme. The NFO opens for subscription on February 14, 2024 and closes on February 28, 2024. The Entry load is not applicable for the scheme. The Exit load will be nil -If units of the Scheme are redeemed or switched out up to 10% of the units within 1 year from the date of allotment. An Exit Load of 1% of the applicable NAV will be charged - If units of the scheme are redeemed or switched out in excess of the limit within 1 year from the date of allotment and no Exit load - If units of scheme are redeemed or switched out after 1 year from the date of allotment. The minimum subscription amount is Rs 5,000 per application and in multiples of Rs 1 thereafter.
The performance of the scheme will be benchmarked against Nifty 500 TRI and its fund managers are Pratish Krishnan and Miten Vora (Overseas Investment).
The investment objective of the scheme is to seek long term capital appreciation by investing at least 80% of its net assets in equity/equity related instruments of companies focusing and benefitting from innovation.
