Bandhan Mutual Fund announced the launch of a new open-ended equity scheme, the Bandhan Innovation Fund. This thematic fund focuses on investing in companies across various sectors that are leading the innovation charge in India.

The NFO (new fund offer) period for the Bandhan Innovation Fund is open from April 10th to April 24th, 2024. Investors can invest with a minimum amount of Rs 1,000 and there is no upper limit on investment. The scheme comes with no entry load fees, but an exit load of 0.5% applies if redeemed or switched out within 30 days of allotment.

The fund seeks to invest in innovative companies across various sectors for long-term growth. It will target leaders in innovation (constantly innovating), rising innovators (promising new ideas), and emerging innovators (early-stage companies adopting new models). The focus is on companies with strong brands, high growth potential, unique products or services, significant investment in research and development, high skilled employee cost, and innovative business models. This includes sectors like technology, finance, and healthcare.

The performance of the Bandhan Innovation Fund will be benchmarked against the NIFTY 500 TRI, a broad market index that reflects a large portion of the Indian market capitalisation.

Manish Gunwani (equity), Brijesh Shah (debt), and Ritika Behera (overseas) will manage the scheme. The fund carries a Very High Risk designation as per the scheme information document.

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