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Mahindra Manulife Mutual Fund has introduced a manufacturing-focused fund called the Mahindra Manulife Manufacturing Fund. This open-ended equity scheme is designed to follow manufacturing themes.
Between April 2023 to January 2024, around 47% of the Nifty500 universe generated more than 50% returns & nearly 20% of the universe more than doubled their stock prices. Most of this action was witnessed in mid and smallcap categories.
The minimum application amount for lumpsum, SIP, and additional purchase investments will be Rs 100, and any amount thereafter. The minimum redemption amount for all plans will be Rs 1,000 or 100 units or account balance, whichever is lower.
Bandhan Mutual Fund announced the launch of the Bandhan Innovation Fund. The scheme opened for public subscription on April 10, 2024, and will close on April 24, 2024.
Sundaram Mutual Fund has filed a draft document with Sebi for a business cycle fund. Sundaram Business Cycle Fund will be an open-ended equity scheme following a business cycle-based investing theme.