Parag Parikh Flexicap Fund first to reach Rs 1-trillion AUM in India

Parag Parikh Flexicap Fund on Wednesday beca­me the first actively-managed mutual fund (MF) scheme in India to achieve the ₹1-trillion assets under management (AUM) milestone, said Neil Parikh, chairman and CEO of PPFAS MF. The sche­me, launched in 2013, took around 12 years to achieve this landmark. The scheme has been managed by Rajeev Thakkar since inception in 2013. At present, the scheme also has four other fund managers. The scheme is popular among investors for its consistent performance and a differentiated approach to investing. It's among the few equity MF offerings that take major cash calls and has the mandate to take significant international equity exposure. HDFC Midcap Opportunities Fund with AUM of around ₹75,000 crore is the second largest scheme.

 

Canara Robeco MF launches multi asset allocation fund

 

Canara Robeco Mutual Fund (MF) on Thursday lau­n­ched a multi asset allocation fund, which will across equity, debt and commodities. The sche­me, according to the fund house, aims to gene­rate alpha when markets are doing well and reduce downside risk in times of bad market per­iods. The Scheme will allocate 65-80 per cent of the total assets towards equity and equity instruments, 10-25 per cent towards Gold and Silver ETFs and 10-25 per cent towards debt and money market instru­ments.  

 

- BS Reporter