New fund from Mahindra Mutual Fund

Hyderabad: Mahindra Mutual Fund, a wholly-owned subsidiary of Mahindra and Mahindra Financial Services Limited (MMFSL), on Friday launched new open-ended equity scheme 'Mahindra Top 250 Nivesh Yojana' for investors who are seeking to generate long-term capital appreciation and income through investments in equity and equity-related securities of large and mid-cap companies.

Ashutosh Bishnoi, MD & CEO, Mahindra Mutual Fund, said, "Indian economy is expected to bounce back sooner than later on account of various fiscal and monetary stimulus announced by the Government of India and the Reserve Bank of India".

The future direction of the markets looks promising on potential corporate earnings recovery and gradually steadying macroeconomic environment.

We believe the scheme will offer growth with stability approach to the equity portfolio and is suitable for investors who are seeking long term wealth creation and income, he said.

The New Fund Offer will open on December 6, 2019 and close on December 20, 2019. The scheme will reopen for continuous sale and repurchase within 5 business days from the date of allotment.

The scheme will invest minimum 80 per cent in equity and equity-related securities, and up to 65 per cent in large-cap and mid-cap companies.

The scheme also has made provision to invest up to 20 per cent in debt and money market securities (including CBLO, Reverse Repo) and up to 10 per cent in units issued by REITs & InvITs.