Canara Robeco Mutual Fund launches fund on manufacturing theme

Canara Robeco Mutual Fund on Thursday announced the launch of a manufacturing fund for investors wanting to bet on India's growing manufacturing heft. The scheme will invest in a wide spectrum of sectors, ranging from capital goods to power to electronics.

Sectors like cement, industrial, automobile, speciality chemicals, renewables, defence, and pharma will also be a part of the universe. As per the fund house, the manufacturing theme seems set to deliver at least in the coming 10-20 years as several long-term drivers are in place.

The tailwinds are emerging from several fronts — policy reforms like Production-Linked Incentive (PLI) and Make in India, global supply chain diversification, investments and capacity utilisation, and demographics.

 

"The launch of Canara Robeco Manufacturing Fund in an attempt to capitalise on India’s potential to become the next manufacturing hub. The fund is an open-ended equity scheme that represents India’s manufacturing theme and will be benchmarked against the S&P BSE India Manufacturing Total Return Index (TRI)," the fund house said in a release.

The fund house has launched the new fund offering (NFO) with special features of auto switch, wherein investors can initially invest in a debt fund and switch it to the manufacturing fund on the last day of the NFO to avoid losing gains during the NFO period.