Bank of India Mutual Fund has launched a new thematic fund called the Bank of India Consumption Fund.
This is an equity fund that focuses on investing in consumption-related companies.
The subscription for this New Fund Offer (NFO) started on November 29, 2024, and will close on December 13, 2024.
Key Details of the Fund
Minimum Investment: ₹5000
Benchmark Index: NIFTY India Consumption TRI
Exit Load: 1% on redemptions or exits of more than 10% of the investment within 3 months of allotment
Fund Manager: Nitin Gosar
Investors can buy units of the fund with a minimum investment of ₹5000 during the NFO period, and afterward in multiples of ₹1.
Who Should Invest?
This fund is ideal for investors looking for long-term capital appreciation. It invests in stocks and securities of companies in the consumption sector and related industries.
After the NFO closes, the fund will be available for regular sale and purchase starting December 23, 2024.
However, it’s important to note that there is no guarantee that the fund will meet its investment objective of generating long-term capital growth.
Best For Long-Term Investors
This fund is ideal for investors seeking long-term capital appreciation. It invests primarily in stocks and stock-related securities of companies in the consumption sector.
The fund aims to generate long-term growth, though there is no guarantee of achieving the investment objective.
The fund will be available for regular buying and selling starting December 23, 2024.
Investment Details and Exit Load
To invest in the Bank of India Consumption Fund, the minimum investment amount is ₹5000, and subsequent investments can be made in multiples of ₹1.
The fund’s benchmark index is the NIFTY India Consumption TRI.
However, investors should note that there is an exit load of 1% if more than 10% of the investment is redeemed or exited within 3 months of allotment. The fund will be managed by Nitin Gosar.
