Mahindra Manulife Mutual Fund announced the launch of a thematic mutual fund Mahindra Manulife Manufacturing Fund that will invest in equity related to companies engaged in manufacturing theme. As much as 80 to 100 per cent of the portfolio will be invested in companies engaged in the manufacturing theme.
NFO Details
The NFO of this scheme will run from May 31, 2024, till June 14, 2024, and then the Scheme will subsequently reopen for continuous sale and repurchase from June 26, 2024.
The minimum lump sum investment is Rs 1,000, the minimum SIP investment is Rs 500 and in multiples of Rs 1 thereafter. As much as a 5 per cent exit load is applicable if units are redeemed or switched on withing 3 months from the date of allotment.•
Anthony Heredia, MD & CEO of Mahindra Manulife Investment Management Private Limited, "This is a thematic fund focused on the long-term opportunities that will emerge as manufacturing continues to gain impetus from policy actions and become a significant driver to the economic transformation agenda. Investors looking for sharper niche ideas and themes which are long term in nature should consider this fund”.
Investment Considerations
The fund house stated in a release that India is positioned for sustained growth, supported by a burgeoning manufacturing sector. It said government incentives and a robust supply-chain infrastructure will support the role of the manufacturing sector in India's growth story.
Major economies diversifying production away from China to avoid supply chain shocks could enhance manufacturing in India. Providing the Western revival in manufacturing with ancillaries and components could also stimulate production in India, the fund house said. The scheme is benchmarked against S&P BSE India Manufacturing TRI which has provided 23.64 per cent and 20.47 per cent returns in 3 and 5 years respectively, as per Association of Mutual Funds of India (AMFI) data.
