Mutual Fund NFO: Bajaj Finserv Large and Mid Cap Fund starts subscription; know, minimum investment, risk, close date and other details

Bajaj Finserv Mutual Fund NFO: Bajaj Finserv Mutual Fund on Tuesday (February 6, 024) opened subscription for its new large and mid cap mutual fund- Bajaj Finserv Large and Mid Cap Fund. This is a high-risk, open ended equity fund which will invest in both large cap and mid cap stocks. The fund will have regular as well as direct plans with the options of systematic investment plan (SIP) and the lump sum. The growth option includes Income Distribution cum Capital Withdrawal (IDCW) such as payout of IDCW, reinvestment of IDCW and the transfer of IDCW.

Describing the objectives of the fund, Bajaj Finserv Mutual Fund said, "To generate long-term capital appreciation by investing in a diversified portfolio of equity and equity related securities, predominantly in large and mid-cap stocks from various sectors. The fund manager may also seek participation in other equity and equity related securities. However, there is no assurance that the investment objective of the Scheme will be achieved."

Bajaj Finserv Large and Mid Cap Fund: Close date

The close date for the subscription of the fund from Bajaj Finserv is February 20. 

Bajaj Finserv Large and Mid Cap Fund: Minimum Investment

The minimum investment in the fund is Rs 500 and in multiples of Re 1 in the lump sum scheme while Rs 500 and above with minimum 6 installments in the SIP scheme.

Bajaj Finserv Large and Mid Cap Fund: Minimum Redemption Amount

The minimum redemption amount for the fund is Rs 500 and in multiples of Re 0.01/- or the account balance of the investor, whichever is less.

Bajaj Finserv Large and Mid Cap Fund: Benchmark

The benchmark for the newly launched fund is Nifty Large Midcap 250 TRI.

Bajaj Finserv Large and Mid Cap Fund: Fund Manager

Nimesh Chandan and Sorbh Gupta are the fund managers for the equity portion, while Siddharth Chaudhary is the fund manager for the Debt portion. 

"A dedicated Overseas Fund Manager for investing in overseas debt securities will be onboarded prior to undertaking investments in overseas debt securities, the company said in its scheme information document. 

Bajaj Finserv Large and Mid Cap Fund: Exit Load

The fund house has different conditions for the exit load from the fund. For each purchase of units through the lump sum/switch-in/Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP), exit load will be as follows: 

If units are redeemed/switched out within 6 months from the date of allotment:

If up to 10 per cent of units allotted are redeemed/switched out – Nil

Any redemption/switch-out of units in excess of 10 per cent of units allotted - 1% of applicable NAV.

If units are redeemed/switched out after 6 months from the date of allotment, no exit load is payable

Bajaj Finserv Large and Mid Cap Fund: Registrar

KFin Technologies Pvt. Ltd. is the registrar for the large and mid cap fund.