Bajaj Finserv AMC launches first equity scheme in flexi-cap category

NFO opens on July 24, closes on August 7

Bajaj Finserv Asset Management has launched its first equity scheme in the flexi-cap category, where a fund manager can choose to invest in companies across the market capitalisation spectrum. The new fund offer (NFO) for Bajaj Finserv Flexi Cap Fund opens on July 24 and closes on August 7.

The flexicap fund will be managed through a 'megatrend' strategy.

“Spotting Megatrends paves the way for long term buy-and-hold investing opportunities and this is a key differentiator between cyclical, thematic and factor investing. Our portfolio will be long-term, multi-thematic, multi-cap, multi-sector and growth-oriented," Nimesh Chandan, chief investment officer, Bajaj Finserv Asset Management.

UTI MF launches balanced advantage fund

UTI Mutual Fund on Friday launched a balanced advantage fund, a type of a hybrid fund where fund managers dynamically manage the equity and debt allocations based on the equity market valuations and fundamentals.

The new fund offer (NFO) for the UTI Balanced Advantage Fund opened on July 21 and will close on August 4.

“For most investors who invest through mutual funds, the challenge is in handling the volatility. They all know the reasons why they should invest in equity and wish to participate in wealth creation through equities but don’t quite know how to handle the volatility that accompanies the journey. Investors need an asset allocation framework and a rebalancing mechanism," said Vetri Subramaniam, chief investment officer, UTI AMC.

Ex-Sebi head Ajay Tyagi on GIFT City board

Ajay Tyagi former chairman, Securities and Exchange Board of India (Sebi) has been appointed as an independent director on the board of Gujarat International Finance Tec (Gift) city, the country’s only international financial services centre.