MUTUAL FUNDS
Bank of India Mutual Fund files offer document for Consumption Fund
Oct-16-2024
Bank of India Mutual Fund has filed offer document with SEBI to launch an open-ended equity scheme named ‘Bank of India Consumption Fund‘. The New Fund Offer price is Rs 10. Entry load will be nil. Exit load will be NIL-There will be no exit load within 3 months from the date of allotment for redemption/switch out upto 10% of the units allotted; 1% -Any  redemption/switch  out  in  excess  of  the above mentioned limit would be subject to an exit load of 1%, if the units are redeemed/ switched out within 3 months from the date of allotment of units; NIL –There    will    be    no    exit    load    on    any redemption/switch  out  after  3  months  from  the  date of allotment of units. The Scheme offers Growth Option and Income Distribution Cum Capital Withdrawal Option for investment and seeks to collect a Minimum Target Amount of Rs 10 crore.

The performance of the scheme will be benchmarked against Nifty India Consumption TRI. The minimum application amount is Rs 5,000 and in multiple of Re 1 thereafter.

The investment objective of the scheme is to provide long-term capital appreciation from an actively managed portfolio of equity and equity related securities of companies engaged in consumption and consumption related sector or allied sectors.

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