Baroda BNP Paribas Mutual Fund launches NFO – Baroda BNP Paribas Floater Fund

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Mumbai, April 12, 2023: Baroda BNP Paribas Mutual Fund has announced the launch of Baroda BNP Paribas Floater Fund, an open-ended debt scheme predominantly investing in floating rate instruments. The fund will be managed by Prashant Pimple (16 yrs. experience) and Mayank Prakash (15 yrs. experience) and will be benchmarked against CRISIL Low Duration Debt Index.

The investment objective of the scheme is to generate regular income through investment in a portfolio comprising predominantly of floating rate instruments and fixed rate instruments swapped for floating rate returns. The Scheme may also invest a portion of its net assets in fixed rate debt and money market instruments. The Scheme will see investment in Floating Rate Debt Instruments (including Fixed Rate Debt Instruments swapped for floating rate returns) (65% – 100%), Debt and Money Market Instruments (0% – 35%) and REITS and INVITs (0%- 10%)
“Baroda BNP Paribas Floater Fund is an all-weather product that aims to deliver market related returns across interest rate cycle. As the fund shall pre-dominantly invests into floating rate instruments, the returns of the fund shall align with the prevailing interest rates. As the interest rates have risen over last couple of years, the coupon earnings of floating rate securities have also risen in line, making them attractive for investors.” said Suresh Soni, CEO, Baroda BNP Paribas Mutual Fund. “As floating rate securities are less volatile compared to fixed income bonds, this fund is also suitable for investors seeking regular income over short- term investment horizon,” he added.
The NFO opened on April 10, 2023 and will close on April 24, 2023

About Baroda BNP Paribas Mutual Fund

Baroda BNP Paribas Mutual Fund is managed by the joint venture AMC, a strategic partnership between Bank of Baroda and BNP Paribas Asset Management, a part of the BNP Paribas Group.
Baroda BNP Paribas Mutual Fund offers 31* schemes across equity, hybrid, debt and overseas fund of fund categories. It aims to combine the widespread network of Bank of Baroda and its know-how of the India market with the global expertise of BNP Paribas Asset Management to offer high quality investment solutions. Baroda BNP Paribas Mutual Fund has strong nationwide presence across 90* towns and cities and has a vision to create a positive impact on people’s lives by delivering sustainable value for their investments.

Offer of units of Rs.10 each during the New Fund Offer period and continuous offer for units at NAV based prices.

The sector(s)/stock(s) mentioned do not constitute any recommendation of the same and Baroda BNP Paribas Mutual Fund may or may not have any future position in these sector(s).

The material contained herein has been obtained from publicly available information, internally developed data and other sources believed to be reliable, but Baroda BNP Paribas Asset Management India Pvt Ltd (BBBNPPAMIPL) makes no representation that it is accurate or complete. BBBNPPAMIPL has no obligation to tell the recipient when opinions or information given herein change. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. This information is meant for general reading purpose only and is not meant to serve as a professional guide for the readers. Except for the historical information contained herein, statements in this publication, which contain words or phrases such as ‘will’, ‘would’, etc., and similar expressions or variations of such expressions may constitute ‘forward-looking statements. These forward-looking statements involve several risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. BBNPPAMIPL undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. The words like believe/belief are independent perception of the Portfolio Manager and do not construe as opinion or advise. This information is not intended to be an offer or solicitation for the purchase or sale of any financial product or instrument. Investors are advised to consult their investment advisor and arrive at an informed decision before making any investments. BBNPPAMIPL its Directors, offers or its employees shall not be liable in any way for any direct, indirect, special, incidental, consequential, punitive or exemplary damages arising out of the information contained in this document.

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