Mahindra AMC Launches Two New Open-Ended Equity Schemes

Mahindra Asset Management Company (MAMCPL) has announced the launch of its two open-ended schemes 'Mahindra Mutual Fund Bal Vikas Yojana' an open ended balanced scheme and 'Mahindra Mutual Fund Badhat Yojana' an open ended equity scheme. 

The new fund offer opened from April 20, 2017 and will close on May 4, 2017. Thereafter, the scheme(s) will reopen for continuous sale and repurchase from May 18, 2017. 

Mahindra Mutual Fund Bal Vikas Yojana, an open ended balanced scheme, seeks to generate capital appreciation and income generation over medium to long term through investment in equity and equity related instruments as well as debt and money market instruments. 

Investments in this fund can be made only in the name of the minor child and contributions in the investment account could be made by all family members and friends. The fund offers optional lock-in investment till the child turns 18 years old, said a company official. 

The second scheme Mahindra Mutual Fund Badhat Yojana - an open ended equity scheme - is best suited for investors who are keen to get medium to long-term capital appreciation through investment predominantly in equity and equity related securities including derivatives, he said. 

Ashutosh Bishnoi, CEO and Managing Director, MAMCPL, said, "Every household in India has a culture of saving instilled in them. We want to leverage on this culture and explain the investment opportunities through our offerings for every customer profile. In a family, securing a child's future, safety and wealth creation are top priorities. Therefore goal-based financial planning through our products helps in systematic investments to create a secure future.