Mahindra Mutual launches new rural fund

Mahindra Mutual Fund, a wholly owned subsidiary of Mahindra and Mahindra Financial Services Limited (MMFSL), Monday launched new open ended equity scheme Mahindra Rural Bharat and ConsumptionYojana.

The scheme is aimed at investors seeking long-term capital appreciation by investing predominantly in equity and equity related instruments of entities engaged in and or expected to benefit from high growth of income and consumption in rural parts of the country, according to a company release.

The New Fund Offer, which will open on October 19 closes on November 2, will reopen for continuous sale and repurchase within 5 business days from the date of allotment.

Ashutosh Bishnoi, MD and CEO, Mahindra Mutual Fund said, We expect Indias higher GDP growth to be contributed by positive demographic dividend and improvement in consumption pattern from Rural India.

Mahindra Rural Bharat and Consumption Yojana provides investors an opportunity to participate in India growth story predominantly in Rural India by investing in well diversified equity portfolio of fundamentally strong, and well-known companies," he said.