Canara Robeco MF launches Capital Protection Fund-Series 1
Canara Robeco Mutual Fund launches Canara Capital Protection Oriented Fund –Series 1 -36 Months (Plan A), that seek capital protection by investing in high quality fixed income securities maturing on or before the maturity of the scheme and seeking capital appreciation by investing in equity and equity related instruments.
February 10, 2011 / 02:22 PM IST
Canara Robeco Asset Management Company Limited today announced the launch of Canara Capital Protection Oriented Fund, -Series 1- 36 months (Plan A), a 3 year close-ended capital protection oriented Fund. The investment objective fo the scheme is to seek capital protection by investing in high quality fixed income securities maturing on or before the maturity of the scheme and seeking capital appreciation by investing in equity and equity related instruments.
The fund is open for subscription from February 11, 2011 to February 24, 2011. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The scheme is rated AAAf (SO) by CARE.
The scheme follows a passive investment strategy for the fixed income component of the scheme wherein the fund will be investing only the highest rated fixed income securities with the objective of Capital Protection. The equity component of the scheme will be primarily invested in diversified equity and equity related securities of the companies that have a potential to appreciate in the long run. The asset allocation of the scheme will be 75-100% in debt and money market instruments and 0-25% in equity and equity linked instruments. (View - New Fund Offers open NOW)
Speaking on the NFO, Rajnish Narula, Chief Executive Officer, Canara Robeco Asset Management said