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An open-ended equity scheme investing in innovation theme.
Highlights:
· The fund will identify key investment themes, aims to invest in companies that are innovative in their business models, processes, and products / services.
· This fund is suitable for investors wanting to invest in the innovative space and wanting to participate in India’s growth journey.
· NFO opens on February 14, 2024, and closes on February 28, 2024
India, February 14, 2024: Baroda BNP Paribas Mutual Fund announced the launch of Baroda BNP Paribas Innovation Fund, An open-ended equity scheme investing in innovation theme. The Fund aims to provide investors with an opportunity to participate in the dynamic environment of innovative companies. The New Fund Offer (NFO) opens from February 14, 2024, and closes on February 28, 2024.
Innovation is a larger term than technology. Innovation can be found in all fields. India’s innovation landscape is thriving, fueled by rising per capita GDP, changing consumer habits, a burgeoning youth population, evolving consumer preferences, and a strong government push. Factors such as a transition to cleaner technology, widespread internet access, and smartphone usage contribute to this momentum. India showcases innovation not only in technology but also in other sectors such as manufacturing and space exploration, exemplified by successful projects like Chandrayaan and Vande Bharat.
The Fund has identified three categories of innovative companies:
Digital natives are disruptors. Leading companies in innovation.
Transformers are companies that supply tools, technologies, and know-how to innovative firms.
Legacy companies are large businesses who are early adopters of technology leading to innovation as they respond to changing market environment.
The Baroda BNP Paribas Innovation Fund, managed by seasoned expert Pratish Krishnan with 23 years of experience, targets investments in companies exhibiting sustainable competitive advantages, robust management quality, and growth potential at reasonable valuations. The fund aims to provide a diversified portfolio devoid of sector or market cap bias, ensuring prudent investment strategies aligned with investor interests. The fund is suitable for investors aspiring a focused exposure to companies which are innovative and disruptive and to participate in India’s growth and innovation journey.
Commenting on the NFO launch, Suresh Soni CEO, Baroda BNP Paribas AMC, said, “Innovation is the spark that inspires change. The Baroda BNP Paribas Innovation Fund aims to back the disrupters and the brave creators building revolutionary paths with cutting edge technologies. The fund will pick companies that are poised to transform industries and capitalise on shifting market trends. By supporting a diverse mix of legacy enterprises, digital natives, and transformers, the fund will strategically invest in firms that thrive on innovation across several sectors and market caps.”