Mahindra Manulife Mutual Fund Launches Multi Asset Allocation Fund – News18

Mahindra Manulife Mutual Fund, in a bid to ensure profit for its investors, announced the launch of the Mahindra Manulife Multi Asset Allocation Fund. The new fund offer (NFO) of the scheme opened for public subscription on February 20, 2024. It is slated to end on March 5, 2024.

The scheme reopens for repurchase on March 15, 2024. Notably, Mahindra Manulife Mutual Fund is a joint venture between Mahindra & Mahindra Financial Services and Manulife Investment Management (Singapore) Pte.

This NFO will invest in diversified asset classes including equity, debt, and units of gold/silver ETFs and other gold/silver-related instruments. The fund house stated, “The scheme aims to balance risk and reward by apportioning investments across specified asset classes.” As per reports, the scheme will be managed by Renjith Sivaram Radhakrishnan, Rahul Pal and Pranav Nishith Patel (Dedicated Fund Manager Overseas investment).

This product is suitable for investors looking for capital appreciation as they generate income over the long term. Additionally, it will also be suitable for the ones investing across equity and equity-related instruments, debt and money market instruments, units of gold/silver ETFs, and exchange-traded commodity derivatives.

Anthony Heredia, MD & CEO of Mahindra Manulife Investment Management, highlighted the importance of the offering as he divulged, “We are excited to announce the launch of our multi-asset allocation fund, which is a product that every investor may have in their portfolio. Markets will always present opportunities along with challenges, and diversification between asset classes done thoughtfully is one of the best ways to make the best of the opportunity, without losing sight of risk. The Mahindra Manulife Multi Asset Allocation Fund presents an opportunity for investors to access multiple asset classes within one product, including equity, debt, and gold/silver ETFs.”

For those seeking investment under the scheme, a minimum of Rs 500 per plan/option in multiples of Re 1 is required to be invested. On the other hand, there is no upper limit for investment in the offering.