Hyderabad: The Bank of India Mutual Fund (BoI MF), with 15 years of fund management experience, announced the launch of New Fund Offer (NFO) - Bank of India Multi Asset Allocation Fund. This fund targets investors interested in three asset classes: Equity, Debt, and Gold. The strategy involves allocating 35 per cent to 40 per cent to Equity & Equity Related Instruments, 45 per cent to 55 per cent to Debt and Money Market instruments, 10 per cent to 15 per cent to Gold ETF, and up to 10 per cent to Units issued by REITs and InvITs. The NFO for the Scheme opened for subscription on February 7, 2024, and closes on February 21, 2024.
The scheme aims for long-term capital growth by primarily investing in equity and equity related securities, debt & money market instruments, and Gold ETF, with no guaranteed returns. It’s suitable for investors seeking low volatility and exposure to multiple asset classes.
Mohit Bhatia, CEO of Bank of India Investment Managers Private Limited, stated that the Multi Asset Allocation Fund adds to their range of products, offering stability through debt allocation, growth via equity & gold, and indexation benefits on long-term capital gains. Alok Singh, CIO, highlighted the fund’s allocation ranges and its ability to balance portfolio volatility through diverse assets. Investing in Bank of India Multi Asset Allocation Fund offers allocation in three asset classes, portfolio building using a top-down and bottom-up approach, exposure to a mix of stocks, bonds, and REITs &Invits, and taxation benefits with indexation.
