Canara Robeco Mutual Fund launched Canara Robeco F.O.R.C.E Fund – an open ended equity fund. The new fund offer (NFO) is open for subscription from 20th July 2009 to 18th August 2009. The scheme will re-open for continuous sale and repurchase within 30 days from the date of closure of NFO.
The scheme will be benchmarked against S&P CNX Nifty. The NFO price for the fund is Rs.10 per unit.
The feature of the fund is to provide long-term capital appreciation by primarily investing in equity and equity related securities of companies in the finance, retail and entertainment sectors.
This fund will offer two plans viz. retail and institutional plus. Both the plans will offer options namely growth, dividend payout and dividend reinvestment.
The minimum installment amount under Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP)/Systematic Withdrawal Plan (SWP) is Rs 2,000 and Rs 1,000 for quarterly and monthly frequency respectively and in multiples of Re 1 thereafter.
The asset allocation under Canara Robeco F.O.R.C.E Fund will be 65-100% in equity and equity related instruments of companies in the finance, retail and entertainment sector, 0-35% in other equity and equity related instruments and 0-35% towards domestic debt and money market instruments.