Mahindra Mutual Fund has launched a New Fund Offer (NFO) for Mahindra Pragati Bluechip Yojana. The NFO period begins on February 22, 2019 and will end on March 08, 2019. The open-ended scheme aims to provide long term capital appreciation to investors by investing in equity and equity related instruments of large cap companies (top 100 companies in terms of full market capitalisation). The scheme will reopen for continuous sale and repurchase within 5 business days from the date of allotment of units.
Asset Allocation of Mahindra Pragati Bluechip Yojana
Under normal circumstances, the asset allocation of the Mahindra Pragati Bluechip Yojana will be as follows:
|Asset Class||Asset Allocation|
|Equity and Equity related securities of large|
|Equity and Equity related securities of other companies||0%||20%|
|Debt and Money Market securities||0%||20%|
|Units issued by REITs & InvITs||0%||10%|
The scheme will not invest in foreign securities, securitised debt, credit default swaps and repos in corporate bonds.
Benchmark of Mahindra Pragati Bluechip Yojana
The performance of Mahindra Pragati Bluechip Yojana will be benchmarked against NIFTY 50 Index (TRI) which is a diversified index comprising of large cap companies. The return details of the index are as follows:
|Index||1 Year Return||3 Year Return||5 Year Return|
|NIFTY 50 – TRI||-0.35%||14.20%||13.61%|
(Data as on January 31, 2019; Source: Pulse Labs)
Fund Manager of Mahindra Pragati Bluechip Yojana
Mahindra Pragati Bluechip Yojana will be managed by Mr. V. Balasubramanian.
Key information about Mahindra Pragati Bluechip Yojana NFO
|NFO period||February 22, 2019 – March 08, 2019|
|Minimum application amount||Rs. 1,000|
|Exit load||1% – If units are redeemed/switched-out|
In or before 1 year from the date of allotment
Nil – If units are redeemed/switched-out after 1 year from the date of allotment
|Benchmark||NIFTY 50 Index (TRI)|
|Fund Manager||V. Balasubramanian|