Shriram Mutual Fund has launched a new fund offer (NFO) of the Shriram Multicap Fund on 7th September, 2018. The NFO of this new open-ended diversified equity scheme will end on 21st September. Being open-ended, you will be able to freely invest in and redeem scheme units on days when markets are open.
Shriram Multicap Fund will invest between 65% to 100% of its assets in equities and equity derivatives of large, midcap and small cap companies. The scheme also has the flexibility to invest in up to 35% of its assets in various debt and money market investments. Moreover, Shriram Multicap Fund will not invest more than 50% of its assets in equity derivatives while retaining the flexibility to invest up to 50% of assets in foreign securities.
The new multi-cap scheme from Shriram Mutual Fund will be benchmarked against the Nifty 500 Index. The highest weights on Nifty 500 Index are assigned to financial services (31%), consumer goods (13%), energy (12%), IT (11%) and automobiles (8%). The 1 year and 5 year returns of this index have been recorded at 14.92% and 19.06% respectively as of 31st August 2018.
Kartik Soral will manage the Shriram Multicap Fund and he already co-manages the equity portfolio of the aggressive hybrid fund, Shriram Hybrid Equity Fund. Even though the equity allocation of Shriram Hybrid Equity Fund is limited, it has provided 1 year and 3 year returns of 8.54% and 10.07% respectively with AUM of Rs. 51 crores as of 31st July 2018.
Additional Details of the Shriram Multicap Fund NFO are as follows:
| NFO Period | 7th September to 21st September |
| Benchmark | Nifty 500 Index |
| Fund Type | Open-ended diversified equity scheme |
| Fund Manager | Kartik Soral |
| Minimum NFO Investment | Rs. 5000 |