Out of these, three schemes have finished their initial new fund offer and available in the market for investment. HSBC Multi Cap Fund, Tata Multicap Fund, and Bank of India Multi Cap Fund are available for investment.
Canara Robeco Multi Cap Fund has just completed the NFO or new fund offer period on July 21 and Mirae Asset Multicap Fund is still under the NFO period. The NFO will close for subscription on August 11.
HSBC Multi Cap Fund, Tata Multicap Fund have completed six months in the market and have offered 18.78% and 13.58% respectively. HSBC Multi Cap Fund, Tata Multicap Fund have seen an increase by 20% and 17% respectively in assets under management. Bank of India Multi Cap Fund has completed around four months in the market and has offered 18.84%. The scheme has seen a surge of 21% in assets under management since inception.
Around three mutual fund houses have also filed draft with Sebi for launching their multi cap schemes. DSP Mutual Fund, Edelweiss Mutual Fund, and WhiteOak Capital Mutual Fund have filed drafts for their multi cap schemes.
According to AMFI monthly data, two NFOs of multi cap schemes- HSBC Multi Cap Fund, Tata Multicap Fund- launched during the January – February 2023 period mobilized Rs 2,968 crore. Multi cap schemes invest across large cap, mid cap,small cap stocks. As per the SEBI norms, the schemes are mandated to invest 25% of total assets each in large cap, mid cap, small cap stocks. These schemes are typically recommended to aggressive investors with a long investment horizon.
