The new fund offer or the NFO of the scheme will open for subscription on April 10 and will close on April 24.
The scheme will be benchmarked against Nifty 500 TRI. The scheme will be managed by Manish Gunwani (equity investments), Brijesh Shah (debt investments), and Ritika Behera (overseas investments).
The fund targets companies with substantial R&D investment, high skilled-employee costs, potentially higher margins or growth, unique products or services, non-linear business models, and a notable brand presence, according to a press release by the fund house.
“Innovation has consistently driven companies forward, and today, India’s flourishing innovation landscape presents an exciting investment opportunity. We are observing ground-breaking transformations not only in technology but also in sectors like finance, auto, technology, healthcare, entertainment, retail, etc,” said Vishal Kapoor, CEO of Bandhan AMC.
He added, “With India’s climb in the global innovation rankings and swift advancements in fields like digital media, e-commerce, and electric vehicles, we stand at a crucial juncture. The Bandhan Innovation Fund is crafted to capitalize on these pivotal shifts, inviting investors to join in this wave of innovation-driven growth.” The Bandhan Innovation Fund will allocate its investments across a spectrum of innovators: 35-45% to leading innovators with substantial industry R&D investments; 35-45% to rising innovators utilizing innovation for a competitive edge; and 10-15% to emerging innovators, those filling market gaps with disruptive products or services and showing a strong growth trajectory. The fund is ideal for investors with a long-term investment horizon and higher risk appetite, looking for diversification in their satellite portfolio and generating potential alpha.An exit load of 0.50% of the applicable NAV will be there if redeemed/switched out within 30 days from the date of allotment. No exit load will be applicable if redeemed/switched out after 30 days from the date of allotment.
The minimum investment amount for lumpsum purchase is Rs 1,000 and in multiples of Re 1 thereafter. The minimum application amount for additional purchase is Rs 1,000 and any amount thereafter. The minimum amount for repurchase/redemption is Rs 500 or the account balance of the investor, whichever is less.
The minimum amount for SIP is Rs 100 and in multiples of Re 1 thereafter with a minimum of six installments. The minimum amount for SWP is Rs 200 and any amount thereafter. For STP the minimum amount is Rs 500 and any amount thereafter.
The scheme is suitable for investors who are seeking to create wealth over the long term and want investment predominantly in equity and equity-related instruments of companies following innovation themes.
