Mahindra launches new equity scheme for rural India growth
A new open ended equity scheme titled ‘Mahindra Rural Bharat and Consumption Yojana,’ was launched on Tuesday for investors who are seeking long-term capital appreciation by investing predominantly in equity and equity related instruments of entities engaged in and/ or expected to benefit from the high growth of income and consumption in rural India.
Mahindra Mutual Fund, a wholly owned subsidiary of Mahindra and Mahindra Financial Services Limited (MMFSL) launched the scheme which would endeavor to generate capital appreciation by investing in entities and businesses that are engaged in and are expected to benefit from the structural shift and growth in rural India.
The new fund offer opens on October 19 and closes on November 2, 2018.
The scheme will reopen for continuous sale and repurchase within 5 business days from the date of allotment. MMF MD and CEO Ashutosh Bishnoi said, “We believe the scheme offers an attractive long-term investment opportunity, hence, investors seeking higher capital appreciation from their investment should consider participating in Mahindra Rural Bharat Yojana.”
”Mahindra Rural Bharat and Consumption Yojana would provide investors an opportunity to invest in a segment with strongest contribution potential to India’s growing GDP. The fund will focus on segments insulated from global volatility such as currency movements, etc and invest in companies that can capture the under-penetration opportunity in rural India,” said Venkataraman Balasubramanian, Chief Equity Strategist, Mahindra Mutual Fund.
The scheme would invest minimum 80 pc in equity and equity related instruments of entities having exposure towards rural India, and upto 20 pc in equity and equity related instruments of entities other than having exposure to rural India.