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