New scheme of Bank of India Mutual Fund opened, investment can start from ₹ 5000; Know more

Mutual Fund NFO: This is an open-ended scheme investing in equity and debt instruments. The asset management company says that this scheme can be helpful in wealth creation in the medium to long term.

Mutual Fund NFO: Asset management company Bank of India Mutual Fund has launched a new multi asset allocation fund in the hybrid category. The subscription of the company’s new fund (NFO) Bank of India Multi Asset Allocation Fund will be open from 7 February 2024 to 21 February 2024. It is an open-ended scheme investing in equity and debt instruments. The asset management company says that this scheme can be helpful in wealth creation in the medium to long term.

You can start investing from ₹5000 in New scheme of Bank of India Mutual Fund

According to asset management company Bank of India Mutual Fund, you can start investing in Bank of India Multi Asset Allocation Fund with a minimum of Rs 5000 and thereafter in multiples of Re 1. In this scheme, an exit load of more than 10 percent of the investment will have to be paid on unit redemption within 12 months from the date of allotment. The benchmark of NFO is NIFTY Composite Debt Index (50), NIFTY 500 TRI (38), Domestic Price of Gold (13). The fund managers of this scheme are Alok Singh and Mithrem Bharucha.

Who can invest in New scheme of Bank of India Mutual Fund

The asset management company says that this scheme is a better option for those investors who want wealth creation in the medium to long term. In this scheme, investors will get the opportunity to invest in equity, equity related securities, debt and money market instruments and gold ETFs.

In hybrid mutual funds, fund houses invest investors’ money in both equity and debt asset classes. The risk in this is less as compared to pure equity scheme. Hybrid mutual funds also have different categories. These include Aggressive Hybrid, Conservative Hybrid, Balanced Hybrid, Dynamic Asset Allocation or Balanced Advantage, Multi Asset Allocation, Arbitrage and Equity Saving Schemes.

(Disclaimer: Only information about NFO is given here. This is not investment advice. Investing in mutual funds is subject to market risks. Consult your advisor before investing.)

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