Mutual Fund NFO: Baroda BNP Paribas starts subscription for its innovation fund; know minimum investment; SIP details, last date and more

Mutual Fund NFO: Asset management company Baroda BNP Paribas Mutual Fund has launched Baroda BNP Paribas Innovation Fund. It is an open-ended equity scheme investing in innovation themes. The aim of this fund is to provide investors with an opportunity to take advantage of the growth of fast-growing innovative companies. The NFO started the subscription on February 14 and will close on February 28, 2024.

Suresh Soni, CEO, Baroda BNP Paribas AMC, said: "Baroda BNP Paribas Innovation Fund aims to support companies growing by challenging the bigger players in their sector with cutting-edge technology. This fund will select companies that are ready to transform the industry and take advantage of changing market trends. By supporting a diverse mix of legacy companies, digital adopters and transformers, the fund will strategically invest in businesses that are driving innovation across sectors and different market cap categories.

Mutual Fund NFO: Starting investment 

According to the asset management company, you can invest in this scheme with a minimum of Rs 1,000 and then in multiples of Re 1.

In the fund, one can make a minimum of Rs 500 daily, weekly, or monthly SIP.

There is no upper limit for investment in the fund. 

Mutual Fund NFO: Benchmark

The benchmark index for Baroda BNP Paribas Innovation Fund is NIFTY 500 TRI. 

Mutual Fund NFO: Fund manager

The fund manager for Baroda BNP Paribas Innovation Fund is Pratish Krishnan. He has more than 23 years of experience.

According to AMC, this fund has identified three categories of innovative companies.

First, companies adopting digital are growing rapidly and are ahead in innovation.

Second, transformers are companies that supply equipment, technology and knowledge to innovative companies.

Third, legacy companies have large businesses that are early adopters of technology and drive innovation in response to changing market environments.

(Disclaimer: NFO details are given here. This is not investment advice. Investing in mutual funds is subject to market risks. Please consult your advisor before investing.)