Mahindra AMC to launch large-,mid-cap equity fund this month, awaits SEBI mandate for pension products

After the joint venture announcement with Manulife, Mahindra Mutual Fund is all set to launch a mix of large and mid-cap fund this month.

The fund house will be launching Mahindra Top 250 Nivesh Yojana on December 6 which will remain open until December 20.

In a candid chat with Moneycontrol, Ashutosh Bishnoi, Chief Executive Officer, Mahindra Mutual Fund said, “We have seen an opportunity in the large-cap space and so we are launching this product,” said, “

Bishnoi also said the fund house is awaiting a mandate from the regulators to build pension or retirement products. “I would very strongly pitch for a pension product to be allowed by mutual funds. If that is going to happen, we will be very excited to take it forward,” he said.

The fund house was also contemplating a scheme in the credit space but because of the recent crisis, it has been kept on the backburner.

“The credit space in India has had tremendous opportunities but because of the fear that people have in India for investment in credit schemes, we will wait and see,” Bishnoi said.

In June, Toronto-headquartered Manulife picked up a 49 percent stake in Mahindra Asset Management for Rs 250 crore.

As of the September quarter, Mahindra Mutual Fund managed assets of Rs 5,221, up 5.02 percent from a quarter ago.

Currently, the fund house offers five debt schemes, four equity funds, two hybrid funds, and an equity-linked savings scheme.