The sign (+) in the name of the fund has been used in terms of asset allocation and not in terms of return/yield
Canara Robeco Asset Management Company Ltd (JV between Canara Bank a 100-year old premier bank in India and Robeco, a Rabobank entity and an 80 year old asset management specialist), today announced the launch of Canara Robeco Large Cap+ Fund - an open-end equity scheme. The objective of this fund is to provide capital appreciation by predominantly investing in companies having large market capitalization. The New Fund Offer (NFO) is open for subscription from 28th June, 2010 and will close on 27th July, 2010.
Canara Robeco Large Cap+ Fund will invest in any of the ‘Top 150’ stocks on the basis of market capitalization representing large cap stocks. The performance of the scheme will be benchmarked to BSE 100. Mr. Anand Shah, Head – Equity is the fund manager for this scheme.
Advantages associated with the fund: -
- Large Cap Advantage – The fund will be investing only in large caps (top 150 stocks). Indian large caps are evergreen stocks with a potential to grow along with the growth in Indian economy. Indian large caps are sturdier and offer an excellent investment avenue for a moderate risk investor.
- Canara Robeco Advantage – Pure Bottom-up stock picking has been an integral part of our Equity Investment Philosophy and has reaped benefits for investors in our funds. We seek to replicate the same fundamental stock picking expertise in this fund.
- Robeco Quant Advantage – The fund will provide investors with access to Robeco’s globally acclaimed quantitative research expertise – ‘Robeco Emerging Markets Stock Selection Model’. The model generates a relative ranking on the basis of Valuation, Momentum and Earning Revisions.
Speaking on the launch of the NFO, Mr. Rajnish Narula, Chief Executive Officer, Canara Robeco Asset Management said, “Canara Robeco Large Cap+ Fund will have a distinctive feature in its investment process. This fund will use the inputs of the Robeco Emerging Markets Stock Selection Model in its investment process as an Idea Generator. We believe this unique combination of using quantitative strategies as an Idea Generator along with the fundamental analysis is a novel product concept which will work well in the Indian markets”, he added.
Elaborating on the fund, Mr. Anand Shah, Head – Equity, Canara Robeco Asset Management said, “Canara Robeco Large Cap+ Fund aims to benefit from a growing Indian economy by investing in large caps, which are the proxies to an economy. We believe a Large Cap fund should be a part of a core holding of any investor’s equity portfolio”, he added.
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Statutory Details: Canara Robeco Mutual Fund (CRMF) has been set up as a Trust under Indian Trust Act, 1882. CRAMC is the asset management company registered under The Companies Act, 1956. Sponsors: Canara Bank, Head Office, 112 J C Road, Bangalore; Robeco Groep N.V., Coolsingel 120, 3011 Rotterdam, The Netherlands. Name of the Fund: Canara Robeco Large Cap+ Fund. Type: Open Ended Equity Scheme. Investment Objective – The Investment Objective of the fund is to provide capital appreciation by predominantly investing in companies having a large market capitalization. Asset Allocation: Large Cap* Equity and Equity Related Instruments: 65%-100%. Domestic Debt and Money Market Instruments (Including securitised debt up to 10% of AUM): 0-35%. Terms of issue: Sale at face value of Rs.10/- during the new fund offer period and thereafter redemption of units at NAV based price on all business days subject to exit load. Load Structure: Entry Load – Nil, Exit Load – 1% if redeemed /switched-out within 1 year from the date of allotment. Options available under the fund: Growth, Dividend (Payout &Reinvestment). Minimum application amount – Initial Purchase – Rs. 5,000 and multiples of Re.1 thereafter and Subsequent Purchase – Rs. 1,000 and multiples of Re. 1 thereafter. NAV: AMC will calculate and publish the first NAV of the Scheme not later than 30 days from the closure of the new fund offer. Subsequently the NAVs will be calculated and disclosed at the close of every business day. Risk Factors: Mutual Funds and securities investments are subject to market risks and there can be no assurance or guarantee that the objectives of the scheme will be achieved. As with any investment in securities, the NAV of the units issued under the scheme may go up or down depending on the various factors and forces affecting capital markets and money markets. Past performance of the sponsors / Investment Manager / Mutual fund does not indicate the future performance of the scheme and may not necessarily provide a basis of comparison with other investments. Canara Robeco Large Cap+ Fund is the name of the schemes and do not in any manner indicate the quality of the schemes, their future prospects or returns. The Sponsors of the Fund are not responsible or liable for any loss or shortfall resulting from the operations of the schemes of CRMF, beyond the initial contribution of a sum of Rs. 10 lacs made towards setting up of CRMF. Investors should read the Scheme Information Document for Scheme specific risk factors and other details before investing.
About Canara Robeco Asset Management Company Ltd
Canara Robeco is a JV between Canara Bank, a 100-year old premier bank in India and Robeco, an 80-year old Rabobank entity and an asset management specialist. It is one of the fastest Growing Asset Managers in India, clocking 94% growth year-on-year in AuM (March 2010 over March 2009). Canara Robeco has an experienced fund management team with over 100 years of experience amongst them in Equities and Fixed Income.