BNP Paribas MF Launched Consumption-Theme Based Mutual Funds In India

BNP Paribas MF has launched new consumption-theme based mutual funds in India on August 17, 2018. The NFO will remain open for subscription until August 31, 2018.

The new India Consumption Fund will invest in firms that are anticipated to profit from the Indian consumers’ growing consumption requirements. That is, the scheme will invest in firms in the business-to-consumer (B2C) space.

The open-ended equity fund will mainly invest in sectors like banks, autos, healthcare services, cement, fertilizers, hotels, consumer durables/non-durables, finance, media, and entertainment, amongst the other companies in the B2C space.

BNP Paribas Mutual Fund aims to recognize firms, across market capitalizations that keep an eye on the B2C model, having a robust competitive benefit and high earnings perceptibility over a relatively long period of time, said Anand Shah, Deputy Chief Executive Officer and Head of Investments of the fund house.

The BNP Paribas consumption-theme based mutual funds in India will invest at least 80 percent of its assets in equity and equity-related securities in the consumption sector.

The scheme will also deploy up to 10 percent in firms other than consumption. The fund will further deploy up to 20 percent of its assets in debt and money market securities or in liquid fund units.

The BNP Paribas’ new India Consumption Fund, the 15th scheme launched by the fund house since its foray in India, offers both Regular and Direct plans with Growth and Dividend options.

The minimum investment for the scheme is 5,000 Rupees and in multiples of one rupee thereafter. The scheme is benchmarked against Nifty 200 TRI.

The scheme charges an exit load of 1 percent if more than 10 percent of total units of the fund scheme are redeemed within one year from the date of allocation. There will be no exit load charges thereafter, and if 10 percent of total units are switched out or redeemed within one year from the date of allocation.

Karthikraj Lakshmanan and Abhijeet Dey are the fund managers for equity investments of the BNP Paribas consumption-theme based mutual funds in India. Mayank Prakash is the fund manager for debt investments of the scheme, according to Money Control.

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