Baroda BNP Paribas Mutual Fund has garnered ₹1,103 crore through its new fund offer on smallcap which was open for subscription between October 6 and October 20, reported Business Line.
The scheme reopened for investment on Wednesday. This is the seventh NFO by Baroda BNP Paribas Asset Management since the two entities merged in March 2022, it said.
The NFO has received wide participation from many investors and distribution partners across cities and towns, claimed Suresh Soni, CEO, Baroda BNP Paribas Asset Management, as per the report.
According to the report, small-cap fund is a growing category, even though the existing category AUM is relatively modest at ₹1.98 lakh crore. The newly launched small-cap fund is an ideal option for investors seeking long-term wealth creation through Indian equity market, Soni said, as reported by BL.
The Baroda BNP Paribas Small Cap Fund invests more than 65 percent of the net assets into small-cap companies, it said, adding that the fund follows a bottom-up stock picking approach with emphasis on selecting companies with strong fundamentals, quality business models and strong management teams.
The fund is sector agnostic and aims to build wealth for investors by tapping into companies which have the potential to become leading companies in future, it said.
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Updated: 03 Nov 2023, 05:56 PM IST
