Canara Robeco Asset Management Company has launched a new fund, Canara Robeco Large Cap+ Fund. It is an open-ended equity scheme. The objective of this scheme is to provide capital appreciation by investing predominantly in large-cap stocks. The new fund offer (NFO) is open for subscription from June 28, 2010 and closes on July 27, 2010.
The fund will invest 65-100 per cent of its portfolio in large-cap equities and equity-related instruments. The balance 0-35 per cent could be invested in domestic debt and money market instruments (including securitised debt up to 10 per cent of assets under management).
The scheme will focus primarily on stocks that rank among the top 150 by market capitalisation. The scheme's performance will be benchmarked against the BSE 100.
The NFO will use inputs from the Robeco Emerging Markets Quantitative model to generate investment ideas.
The fund offers two options — Growth and Dividend. The minimum application amount is Rs 5,000. An exit load of one per cent will be charged if the investor redeems or switches out of the scheme's units within one year from the date of allotment.