Mumbai, March 09, 2015 (News Team): Baroda Pioneer Mutual Fund today announced the launch of Baroda Pioneer Hybrid Fund - Series I, a close ended hybrid scheme. This product is suitable for investors who are seeking to generate income and capital appreciation over the short term to medium term.
The New Fund Offer (NFO) is open for subscription from 2nd March 2015 and closes on 17th March 2015. The units will be available at par Rs.10/- The primary objective of the Scheme is to generate income by investing in fixed income securities maturing on or before the date of the maturity of the Scheme and to generate capital appreciation by investing in equity and equity related instruments.
Baroda Pioneer Hybrid fund – Series I will have both, the equity and debt fund managers managing their respective area of expertise, thus offering investors the best of both worlds. Dipak Acharya will be managing the equity segment while Alok Sahoo will be managing the debt part of investment.
Speaking on the occasion, Sanjay Chawla, Chief Investment Officer of Baroda Pioneer Asset Management Company Ltd said, “The Indian markets are poised at a remarkably interesting juncture. The budget does a fine balance between fiscal prudence and has a number of levers to enable growth. In view of these developments, Baroda Pioneer has launched the first series in Baroda Pioneer Hybrid Fund - Series I. The focus area of the NFO will be to generate income by investing in high quality fixed income securities that are maturing on or before the maturity of the Scheme whilst the secondary objective is to generate capital appreciation by investing in equity and equity related instruments.”
This fund is aimed at combining income generation with potential capital preservation. It is predominantly a fixed income product as more than 65% of the corpus would be invested in debt and money market instruments. A maximum of 30% would be invested in equity or equity linked instruments, with an endeavor to generate return.