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| Canara Robeco launches scheme with focus on BFSI, retail |
| Press Trust of India / Mumbai Jul 21, 2009, 17:21 IST |
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Canara Robeco Asset Management Company today launched an open-ended equity scheme, Canara Robeco FORCE Fund, with subscription opening from July 20 and closing on August 18.
The fund would provide long-term capital appreciation by primarily investing in equity and equity-related securities of companies in segments like finance, retail and entertainment.
"The Canara Robeco FORCE fund centres around the India growth story. The fund strictly focuses on segments like finance, retail and entertainment sectors which we believe will grow in next 10-15 years," Canara Robeco Asset Management Chief Executive Officer, Rajnish Narula, told reporters here.
The scheme would invest a minimum of 40 per cent and a maximum of 65 per cent in the BFSI sector, a minimum of 15 per cent and a maximum of 35 per cent in the entertainment sector and a minimum of 10 per cent and a maximum of 25 per cent in retail sector.
Additionally, the scheme would invest in equity and equity-related instruments, foreign securities, Government securities and money instruments.
"The fund intends to invest in companies that exhibit a scalable and sustainable investment opportunity," Canara Robeco Asset Management Head (Equities), Anand Shah, said.
He further said that the consumption segment has much more sustainable story than infrastructure.
"Although, both consumption and infrastructure segments have growth today but anything which is resilient is consumption," Shah said.
Canara Robeco is a joint venture between Canara Bank and Robeco.
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