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Mahindra Asset Management to launch a mid-cap fund next month

PTI | Hyderabad |

Mahindra Asset Management Company Pvt Ltd (MAMCPL), the investment manager to Mahindra Mutual Fund, today said it will launch a mid-cap fund next month.

The ‘Mahindra Unnati Emerging Business Yojana’, an open-ended equity scheme, will open on January 8, 2018 and close on January 22.

The scheme will reopen for continuous sale and repurchase from February 6, 2018, Mahindra AMC Managing Director and Chief Executive Officer Ashutosh Bishnoi said at a press conference.

MAMCPL is a wholly owned subsidiary of Mahindra Finance, a part of the USD 19 billion Mahindra Group.

“In a relatively sluggish macro-growth environment, the mid-cap companies have shown higher earnings growth compared to large-caps. We do see enough scope for stock- specific investment opportunities in the mid-cap space, especially in those segments that have multi-year structural growth outlook,” Bishnoi said.

The fund would give investors an opportunity to participate in the growth story of today’s emerging companies which have the potential to become market leaders in the future, he added.