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Tuesday, July 21, 2009

NFO period of Canara Robeco F.O.R.C.E Fund starts on 20 July 2009

Investment exposure will be in finance, retail, & entertainment sector

Canara Robeco Mutual Fund has launched the new offer period of Canara Robeco F.O.R.C.E Fund (Financial Opportunities, Retail Consumption & Entertainment Fund), an open-ended equity Fund. The new fund has opened on 20 July 2009 and will close on 18 August 2009. The face value of the new issue will be Rs 10 per unit.

The investment objective of the Fund is to seek to provide long-term capital appreciation by primarily investing in equity and equity related securities of companies in the finance, retail, & entertainment sector.

Features of the scheme:

Investment option: The scheme offers two plans viz. retail and institutional plan with growth and dividend option. The dividend option further offers dividend payout and dividend reinvestment facility.

Minimum application amount: The minimum investment amount under retail plan will be Rs 5000 and in multiples of Re 1 thereafter and under institutional plan will be Rs 5 crore and in multiples of Re 1 thereafter.

The scheme seeks to collect a minimum corpus of Rs 10 crore during NFO period.

Asset allocation: The scheme will invest 65-100% in Equity and equity related instruments of companies in the Finance, Retail & Entertainment with high risk profile. It will invest up to 35% in Other Equity and equity related instruments with high risk profile. The fund will invest up to 35% in Domestic Debt and Money Market instruments (Including securitised debt up to 10% of net assets) with low risk.

The scheme shall invest minimum 40% and maximum 65% in Finance Sector, minimum 15% and maximum 35% in Entertainment sector and minimum 10% and maximum 25% in Retail sector. Exposure by the Scheme in derivative instruments for the purpose of hedging and portfolio rebalancing shall not exceed 30% of the total Net Assets of Scheme.

Investment by the Scheme in ADRs/GDRs shall not exceed 10% of the net assets of the Scheme as on the date of such investments. The Scheme may invest in Foreign Securities up to 10% of the net assets of the Scheme (subject to an overall limit of 10% of the net assets of the Fund) as on 31st March of each relevant year of the investment subject to a maximum of US$ 7 billion (subject to a maximum of US$ 300 million per Mutual Fund).

The stock lending done by the Scheme (if any) shall not exceed 25% of the net assets of the Scheme as on the date of such lending. The scheme shall not make any investments in foreign securitized debt.

Load structure:

Retail Plan:

Entry load: The scheme will levy an entry load of 2.25% for investments less than Rs. 5 crore. For investments of Rs. 5 crore and above, no entry load will be charged.

Exit load: 1% will be the exit load for investments less than Rs 5 crore redeemed/ switched out within 12 months from the date of allotment. While no exit load will be levied for amount equal to and greater than Rs.5 crore redeemed/switched out.

Institutional Plan: There will be no entry load and exit load.

Benchmark index: The performance of the scheme is being benchmarked to the performance of S&P CNX Nifty.

Fund Manager: Anand N. Shah will be fund manager for the scheme.

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