Old Bridge Mutual Fund on Wednesday launched its maiden mutual fund scheme which will open for subscription from January 17 to 19. The fund house backed by Old Bridge Capital Management Private Limited announced the new fund offer (NFO) -- Old Bridge Focused Equity Fund, an open-ended equity scheme investing in up to 30 stocks.

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The stocks in the portfolio would be market cap-agnostic and sector-agnostic to participate in their growth, Old Bridge Mutual Fund CIO Kenneth Andrade said here.

Investors can participate through a systematic investment plan with a minimum investment of Rs 2,500 and in multiples of Rs 1 thereafter.

For lump-sum investments, the minimum amount is Rs 5,000. The scheme will be benchmarked against the S&P BSE 500 TRI.

Andrade said the fund with a multi-cap approach is designed to identify businesses with potential to compound capital over the long term, focusing on companies with enduring economic moats that has long-term franchise value and continued growth potential.

The fund will be managed by Andrade along with seasoned investment professional Tarang Agrawal.

"The fund's strategy is aligned with our investment philosophy focusing on early-cycle businesses with strong leadership and growth potential," he said.

With over 20 million new investment accounts and a 19 per cent increase in fund assets during the first 11 months of 2023, India surpasses global peers like the US, Japan, and China, he said.

In the past decade, the mutual fund industry has experienced an astounding growth of over six times, surging from approximately Rs 8 lakh crore in 2013 to an impressive Rs 50.8 lakh crore by the end of 2023, as per data released by AMFI (Association of Mutual Funds in India).