Mahindra Asset Management Company Pvt. Ltd. (MAMCPL), the investment manager to Mahindra Mutual Fund and the wholly owned subsidiary of Mahindra Finance, 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 will open 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’ 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.
‘Mahindra Mutual Fund Badhat Yojana’ 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.
Inflation often leads to erosion of capital, investment in equity funds helps beat inflation.
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 like ‘Mahindra Mutual Fund Bal Vikas Yojana’ and ‘Mahindra Mutual Fund Badhat Yojana’ helps in systematic investments to create a secure future.”
He added, “Children these days have unconventional dreams and aspirations. Meticulous financial planning can help ensuring they have all the education and facilities they require to fructify their dreams. The first step however is to start as early as you can.”
Jatinder Pal Singh, Head of Sales and Distribution of MAMCPL said, “We all have many dreams and every dream needs a separate fund. The goal-based investment approach help investors realize their financial dreams and enable them to live a fulfilling life without having to make compromises. Both the funds help fulfill a different dream. Our approach is based on continuously educating the potential customer on the investment opportunities to them in their language.”