Nippon Life India Asset Management Ltd (NAM India), the asset manager of Nippon India Mutual Fund (NIMF), has appointed Parekh Ashvin as an independent director on the NAM India board for a five-year term.
Parekh has more than 40 years of experience in business and operational strategies in banking, insurance, asset management and para-banking Institutions across the Indian subcontinent, the US, Europe and Australia.
The news comes on the day the company announced the launch of a multi-asset fund.
The Nippon India Multi Asset Fund (NIMAF) is an open-ended scheme and will provide a one-stop asset allocation solution across asset classes.
The New Fund Offer (NFO) opens on August 7, 2020 and closes on August 21.
“Asset allocation is the key to long-term wealth creation. Over the last decade we have seen divergent returns among asset classes and hence have different levels of risk. The Nippon India Multi Asset Fund will provide a one-stop solution to investors looking to have a diversified and balanced portfolio," Nippon India Mutual Fund ED and CEO Sundeep Sikka.
The fund’s investment objective is to generate long term capital appreciation by investing in a diversified portfolio comprising of equity and equity-related securities, debt & money market instruments and Exchange Traded Commodity Derivatives and Gold ETF.
The fund will invest 50 percent of its assets in Indian equities,20 percent in international equities, 15 percent in commodities and the remaining in Debt & Money Market Instruments
The minimum investment required is Rs 5,000 and in multiples of Rs 1 thereafter.
The fund will be managed by heads of the respective asset classes Manish Gunwani, CIO – Equity Investments, NIMF, Amit Tripathi CIO - Fixed Income,NIMF, Vikram Dhawan Head - Commodities, NIMF
"Our fund investment strategy consists of asset allocation beyond equity & debt covering commodity as being an important tool for diversification and allows many investors to venture into a diversified and asset class for long term wealth creation," Sikka added.
Nippon Life India Asset Management (NAM India) has appointed Parekh Ashvin, as Independent Director on the board of directors of Nippon Life India Asset Management Limited for a term of 5 years.
Mr. Parekh has more than 40 years of rich experience in Business & Operational strategies in Banking, Insurance, Asset Management and Para-banking Institutions across the Indian Subcontinent, US, Europe and Australia