Mahindra Mutual Fund India has announced that Mr. Srinivasan Ramamurthy will be the new Fund Manager of its Badhat Yojana Scheme with effect from September 10, 2018. The fund house has appointed the new Fund Manager after the resignation of Mr. Ratish Varier, Fund Manager-Equity.
The objective of the open-ended multi-cap equity scheme seeks to generate medium to long-term capital appreciation via suitable diversification and by taking a low risk on the quality of the business.
The Mahindra Mutual Fund Badhat Yojana scheme was launched in April 2017. The scheme will invest 75 percent to 100 percent of its assets in Equity instruments, 25 percent of assets in Debt instruments and 25 percent of assets in other securities.
The minimum initial investment amount for the scheme is 1000 Rupees. The Face Value of the scheme is 10.00 Rupees per unit, and the Fund Size of the scheme is 255.97 Crore Rupees. The expense ratio of the scheme is 2.87 percent.
The Badhat Yojana scheme of the Mahindra Mutual Fund India is benchmarked against NIFTY 200 Total Return Index. The scheme offers both Regular and Direct Plans.
The NAV (Net Asset Value) of the open-ended multi-cap equity scheme as on September 07, 2018 is 11.0631 Rupees. The AUM (Asset Under Management) of the scheme is 279.77 Crore Rupees.
Mr. Varier has been managing the Badhat Yojana scheme since April 2017, according to The Economic Times.
The fund house has appointed Mr. Ramamurthy as the new fund manager of the scheme, pursuant to the resignation of Mr. Varier. The Mahindra Asset Management Company appointed him as the Equity Fund Manager earlier in July 2018. Prior to that, he worked with IDBI group where he was managing the hybrid and equity strategies, reported Money Control.
Mahindra Mutual Fund India has announced the appointment of Mr. Ramamurthy as the new Fund Manager for the Badhat Yojana Scheme on September 10, 2018, according to KJMC.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]