Baroda Pioneer MF launches close-ended equity scheme

Baroda Pioneer Mutual Fund has launched a close-ended equity scheme targeted at mid and small -cap firms through which it hopes to mop up Rs 100 crore.
Baroda Pioneer Equity Trigger Fund-Series-I aims to provide investors an opportunity for investing in the markets at a time when India is at the cusp of economic reform, the MF house said here today.
The new fund offer (NFO) will open for subscription on December 5 and close on December 19.
"We are looking at collecting fund to the tune of Rs 100 crore from investors from this NFO," Baroda Pioneer Asset Management Company Chief Investment Officer Sanjay Chawla said.

This product has been designed keeping in mind investors who are seeking capital appreciation during the tenure of the scheme, which has a maturity of three years. The investments would predominantly be in equity and its related securities of mid and small-cap companies, it said.
The company, a joint venture between Bank of Baroda and Pioneer Investments, is planning to come out with two more products.
"We have already filed for the two new products - an open-ended fund in equity and a hybrid fund - with the market regulator Sebi and are hopeful of getting the approvals for them shortly," Baroda Pioneer Mutual Fund Chief Operating Officer Kiran Deshpande told PTI on margins of an event here.