Bank of India Mutual Fund announces New Fund Offer; The fund is suitable for investors looking for long-term growth and seeks to generate returns by seizing the expansion potential of India's consumer-driven economy.
FinTech BizNews Service
Mumbai, 2 December, 2024: Bank of India Mutual Fund, with over 16 years of extensive fund management expertise, has unveiled its latest offering, Bank of India Consumption Fund, under a New Fund Offer.
Bank of India Consumption Fund seeks to invest in the country's expanding family consumption basket by leveraging India's dynamic economic growth and changing consumer habits. A growing middle class, rising urbanization, and an increasing young population drive India's consumer sector by creating demand for goods and services across businesses. The portfolio focuses on industries including retail, consumer durables, healthcare, and financial services. It aims to expose investors to the range of options brought out by India's changing consumption patterns, making it an investment vehicle for anybody aspiring to take advantage of the country's long-term economic development.
The fund is suitable for investors looking for long-term growth and seeks to generate returns by seizing the expansion potential of India's consumer-driven economy. The fund may benefit from the changing nature of consumer demand due to the nation's growing disposable incomes and premiumization of branded and high-end goods. The fund focuses on industries with robust consumer demand while investing in businesses gaining from these demographic and economic changes. Given that India is still one of the biggest consumer markets in the world, this fund will invest in the growth trends in the world economy.*
The NFO for the Scheme opens for subscription on November 29, 2024, and closes on December 13, 2024.
Key features of the fund
- Invest in India’s growing household consumption basket
- Capture India’s growth story and evolving consumer trends
- Resilient sectors driven by consumer demand
Alok Singh, CIO, Bank of India Investment Managers Private Limited: "The growing Indian economy is helping to increase per capita GDP, which generates higher disposable income. The growing income levels are resulting in higher discretionary spending and an increase in financial savings. This changing spending pattern has an influence on many businesses and may also result in the creation of a newer profit pool. Bank of India Consumption Fund looks to capitalize on the increasing discretionary spending by Indian consumers."
Mohit Bhatia, CEO, Bank of India Investment Managers Private Limited: " We have always endeavored to offer sustainable investment constructs focused on long-term wealth creation for our investors. This new offering from Bank of India Mutual Fund focuses on a broad theme that has traditionally comprised the core allocation for most diversified schemes and yet has an ever-evolving and broad array of industries & themes that comprise the rapidly growing consumer basket of Indian households. We feel that this is ideal for investors looking for broad thematic exposure across an equity portfolio with a time horizon of 3 years and above."
