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While most mutual fund schemes in the balanced advantage or dynamic asset allocation categories are equity-oriented, this scheme will maintain the equity allocation between 35% and 65% to make it eligible for the indexation benefits announced by the government in the Union budget for 2023-24.
Indian equities weakened on Monday as heightened uncertainty over the Israel-Hamas conflict led to a flight of money, across global markets, to safe-haven assets such as gold and the US dollar.
In order to make mutual funds more transparent, SEBI has over the years mandated that asset management companies inform investors of important changes via email, if it affects their money. These could be a change of the fund's mandate to a change in its investment objective.
Seasoned investors capable of building their own asset allocation and those that have seen multiple cycles, can skip the new fund offer .
The NFO of Canara Robeco Multicap Fund, which will invest in a mix of large-, mid- and small-cap stocks, will close on July 21. It will be managed by Shridatta Bhandwaldar and Vishal Mishra.