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Mahindra Mutual Fund Launches ‘Mahindra Pragati Bluechip Yojana,’

In Business
February 26, 2019

MUMBAI:
Mahindra Mutual Fund, a wholly owned subsidiary of Mahindra and Mahindra Financial Services Limited (MMFSL) launches new open ended equity scheme ‘Mahindra Pragati Bluechip Yojana,’ for investors who are seeking long-term capital appreciation and growth opportunities by investing in a portfolio constituted of predominantly equity and related securities including derivatives of large cap companies.

Ashutosh Bishnoi, MD & CEO, Mahindra Mutual Fund said, “India’s large cap companies’ have shown lesser volatility in different market cycles, while valuations have remained relatively reasonable over these market cycles, making it an all season choice. Market cap to GDP has shown a positive trend, while large caps have historically represented more than half the market, making a strong case for investment. We believe the scheme will offer an attractive long-term investment opportunity, hence investors seeking higher capital appreciation from their investment should consider participating in Mahindra Pragati Bluechip Yojana.”

The New Fund Offer opens on February 22, 2019 and closes on March 08, 2019. The scheme will reopen for continuous sale and repurchase within 5 business days from the date of allotment.

Venkataraman Balasubramanian, Chief Equity Strategist, Mahindra Mutual Fund said, “Mahindra Pragati Bluechip Yojana aims to have high conviction concentrated portfolio in a staggered fashion with a focus to generate alpha, and follow blended style of investing-growth and value. In terms of strategy, the fund will have top down approach to identify sectors with potential, across different periods based on emerging macro trends, while the fund will also have a bottom up stock selection from the big 100 companies that have good governance and strong leadership tactical calls for short to medium investment horizons.”

The scheme would invest minimum 80% in equity and equity related instruments of large cap companies, and up to 20% in equity and equity related instruments of other companies. The scheme would invest up to 20% in debt and money market securities, and upto 10% in units issued by REITs & InvITs.