Nippon Life India Asset Management Limited has announced the launch of Nippon India Multi-Asset Fund. The New Fund Offer (NFO) opens for subscription on August 7 and closes on August 21. The minimum investment required is Rs 5,000 and in multiples of Re 1 thereafter.
The fund will be managed by Manish Gunwani, CIO – Equity Investments along with Ashutosh Bhargava, Fund Manager & Head Equity Research, Kinjal Desai, Fund Manager – Overseas; Amit Tripathi CIO – Fixed Income and Vikram Dhawan Head â Commodities.
According to a press release shared by the fund house, the investment objective of Nippon India Multi Asset Fund is to seek long term capital growth by investing in equity and equity related securities, debt & money market instruments and Exchange Traded Commodity Derivatives and Gold ETF as permitted by SEBI from time to time.
The fund will invest 50% of its assets in Indian equities, 20% in international equities, 15% in commodities and the remaining in Debt & Money Market Instruments.
âInvestors tend to have a home-bias and invest mainly in domestic equities. We believe it is important for investors to have a foot in every major investible asset classes, including international equities and commodities, which could help them balance returns across cycles,â says Manish Gunwani, CIO-Equities.