an equity scheme focused on large & mid cap companies
– Aim to provide stability of large caps and growth of mid-caps
– Active stock selection through QOV process for superior return potential
– Rule based diversification for optimum performance in changing market cycles
– New Fund Offer for initial subscription opens on Dec 06, 2019 and closes on Dec 20, 2019
Jaipur,: Mahindra Mutual Fund, a wholly owned subsidiary of Mahindra and Mahindra Financial Services Limited (MMFSL) launches 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.
Mr 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.”
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.
Mr. Venkataraman Balasubramanian, Chief Equity Strategist, Mahindra Mutual Fund said, “Mahindra Top 250 Nivesh Yojana aims to build a portfolio with nearly equal exposure in large and mid-cap, and take tactical calls based on market cycles. The stock selection process will be done through Quality, Outlook, and Valuation (QOV) process for superior return potential. The scheme plans to allocate funds across market caps with a mix of top down and bottom up strategies, based on research and outlook.”
The scheme would invest minimum 80% in equity and equity related securities, and upto 65% in large cap and mid Cap companies. The scheme also has made provision to invest upto 20% in debt and money market securities (including CBLO, Reverse Repo) and upto 10% in units issued by REITs & InvITs.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
About Mahindra Mutual Fund
During the quarter ended September 30, 2019, MAMCPL earned revenues of Rs.4.31 Crores as compared to Rs.9.74 Crores in the same period previous year. The company incurred a loss of Rs.8.84 Crores compared to a loss of Rs.11.54 Crores during the same period previous year.
During the half year ended September 30, 2019, MAMCPL earned revenues of Rs.8.44 Crores as compared to Rs.19.15 Crores in the same period previous year The company incurred a loss of Rs.17.40 Crores compared to a loss of Rs.17.76 Crores during the same period previous year.
The Average Assets under Management (AUM) of MAMCPL for the period ended September 30, 2019 was Rs.5221 Crores across eleven schemes which showed a growth of 20% over the same period previous year. Of these assets, MAMCPL managed Rs.1521 crores of average equity assets in the quarter ended September 30, 2019 which compared to Rs.1315 Crores in the same quarter last year.
About Mahindra & Mahindra Financial Services Limited
Mahindra & Mahindra Financial Services Limited (Mahindra Finance), part of the Mahindra Group, is one of India’s leading non-banking finance companies. Focused on the rural and semi-urban sector, the Company has over 6.4 Million customers and has an AUM of over USD 10 Billion.
The Company is a leading vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits. The Company has over 1,300 MMFSL offices and reaches out to customers spread over 3,70,000 villages and 7,000 towns across the country.
Mahindra Finance is the only Non-Banking Finance Company from India to be listed on the Dow Jones Sustainability Index in the Emerging Market Category. Mahindra Finance has been ranked 8th on the list of India’s Best Companies to work for – 2019 and 25 Best Large Workplaces in Asia 2019 by Great Place to Work® Institute.
The Company’s Insurance Broking subsidiary, Mahindra Insurance Brokers Limited (MIBL), is a licensed Composite Broker providing Direct and Reinsurance broking services.
Mahindra Rural Housing Finance Limited (MRHFL) a subsidiary of Mahindra Finance provides loans for purchase, renovation, construction of houses to individuals in the rural and semi-urban areas of the country.
Mahindra Asset Management Company Private Limited (MAMCPL), a wholly-owned subsidiary of Mahindra Finance, acts as the Investment Manager of Mahindra Mutual Fund.
The Company has a Joint Venture in the US, Mahindra Finance USA LLC, in partnership with De Lage Landen, a subsidiary of Rabo Bank, for financing Mahindra tractors in the US
About Mahindra
The Mahindra Group is a USD 20.7 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It enjoys a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume.
It also enjoys a strong presence in agribusiness, aerospace, commercial vehicles, components, defense, logistics, real estate, renewable energy, speedboats and steel, amongst other businesses. Headquartered in India, Mahindra employs over 2,40,000 people across 100 countries.
