Bandhan Mutual Fund came into existence after a consortium led by Bandhan Financial Holdings Limited (BFHL) acquired IDFC AMC in 2022. IDFC Mutual Fund had been operating since 2000. Therefore, while the Bandhan Mutual Fund name is new, it inherits a 24+ year history.
As of March 2024, Bandhan Mutual Fund has AUM of around Rs. 1,37,354 crore, making it 13th top Mutual Fund house in India in terms of AUM.
Bandhan Mutual Fund has recently launched NFO (New Fund Offer) under the theme of innovaction. This is a thematic fund offering exposure to companies which are leaders in innovation, leveraging innovation to create a competitve advantage or immerging as innonvators which may have low market share at present but projected to have strong growth.
INNOVATION is the practical implementation of ideas that result in the introduction or improvement in offering goods or services.
This is an open-ended thematic scheme. The fund will invest in companies with an innovation theme, both in India and overseas. According to the Scheme Information Document (SID), the fund can invest up to 20% of its Assets Under Management (AUM) in overseas securities. It will be actively managed and invest across market capitalization and sectors.
The scheme’s innovation framework focuses on three key areas: Leading Innovators, Rising Innovators, and Emerging Innovators (LRE).
The fund’s equity portion will be overseen by Mr. Manish Gunwani. He brings over 25 years of extensive experience in all aspects of equity research and fund management. Previously, Manish served as the Chief Investment Officer - Equities at Nippon India Mutual Fund, where he managed an equity AUM exceeding Rs 1.2 lakh crores.
Mr. Brijesh Shah will be responsible for managing the scheme’s debt portfolio.
The overseas portion of the fund will be managed by Ms. Ritika Behera.
Benchmark for the fund is Nifty 500 TRI. NFO of the fund will remain open till 24th of April, 2024. As this is thematic equity oriented fund this fund comes under very high risk category.
To know more about fund check the NFO presentation .
To know if this fund is right fit in your overall wealth building plan, feel free to get in touch with us.
