NFO Alert: Mahindra Manulife Mutual Fund starts subscription for its multi asset allocation fund, know SIP details, minimum investment, and more

Mahindra Manulife Multi Asset Allocation Fund: Mahindra Manulife Mutual Fund on Tuesday (February 20, 2024) started the subscription for its Mahindra Manulife Multi Asset Allocation Fund. It's an open ended hybrid multi asset allocation fund with direct and regular plans. The fund is offering the ICDW and growth options for its investors. In this write-up, know more information about Mahindra Manulife Mutual Fund's new scheme. 

Mahindra Manulife Multi Asset Allocation Fund: Minimum investment 

The investment objective of Mahindra Manulife Multi Asset Allocation Fund is to seek to generate long-term capital appreciation and income by investing in equity and equity-related securities, debt and money market instruments.

Investors can make a lump sum investment of Rs 1000 and in multiples of Rs 1 thereafter.

The rule is same for the switch-in option. 

Mahindra Manulife Multi Asset Allocation Fund: SIP details

For its weekly and monthly SIPs, investors can have six installments of a minimum of Rs 500 each and in multiples of Re 1 each thereafter. For quarterly SIPs, one needs to invest a minimum of four installments of Rs 1500 each and in multiples of Re 1 thereafter. 

Mahindra Manulife Multi Asset Allocation Fund: Objective

The objective of the scheme is to generate long-term capital appreciation and income by investing in equity and equity-related securities, debt and money market instruments, gold/silver ETF and exchange-traded commodity derivatives (ETCDs) as permitted by SEBI from time to time.

However, there is no assurance that the investment objective of the scheme will be achieved. 

Mahindra Manulife Multi Asset Allocation Fund: Fund managers

The NFO will be managed by Renjith Sivaram Radhakrishnan (equity), Rahul Pal (debt) and Pranav Nishith Patel (dedicated fund manager for overseas investments). 

Mahindra Manulife Multi Asset Allocation Fund: Benchmark

The scheme will be benchmarked against 45% NIFTY 500 TRI+40% CRISIL Composite Bond Index+10% Domestic Price of Physical Gold+5% Domestic Price of Silver (First Tier Benchmark).  

Mahindra Manulife Multi Asset Allocation Fund: Exit Load

An Exit Load of 0.5 per cent is payable if Units are redeemed/switched-out up to 3 months from the date of allotment of Units; - Nil If units are redeemed/switched-out after completion of 3 months from the date of allotment of units.

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