Canara Robeco Mutual Fund has filed an offer document with Securities and Exchange Board of India (SEBI) to launch Canara Robeco Large Cap+ Fund, an open ended equity scheme. The new fund offer (NFO) price for the scheme is Rs 10 per unit.
The Investment Objective of the fund is to provide capital appreciation by predominantly investing in companies having a large market capitalization.
The scheme shall offer growth, dividend payout and dividend re-investment options.
The scheme may invest 65% to 100% of asset in large cap equity and equity related instruments, with high risk profile. It would also invest 0-35% in domestic debt and money market instruments including securitized debt up-to 10% of AUM, with low risk profile.
Entry load will be nil and exit load charge will be 1% for all amounts if redeemed / switched-out within 1 year from the date of allotment.
Minimum application amount will be Rs. 5000 and in multiples of Re.1 thereafter and Rs. 1000 for subsequent purchases and in multiples of Re.1 thereafter.
The minimum subscription (target) amount of Rs. 10 crore is expected to be raised during the NFO period of Canara Robeco Large Cap+ Fund.
The Scheme's performance will be benchmarked against BSE 100.
The fund manager of the scheme will be Nimesh Chandan.
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