Baroda Pioneer Mutual Fund today announced the launch of Baroda Pioneer Equity Trigger Fund - Series I, a close ended equity scheme. This product has been designed keeping in mind investors who are seeking capital appreciation during the tenure of the scheme, which has a maturity of 3 years. The investments would pre-dominantly be in equity and equity related securities of mid and small cap companies.
The New Fund Offer (NFO) will open for subscription on December 05, 2014 and close on December 19, 2014. The units will be available at par - Rs.10/- during the NFO. At any time before the maturity date if the NAV of the Growth option in Plan B (Direct) crosses INR15/- then the scheme will be wound up on the 10th business day and the proceeds would be returned to the Unit holders of both the Plans.
Speaking on the occasion, Mr. Jack Lin, Head of Asia Pacific, Middle East and Africa, Pioneer Investments, one of the two promoters of the fund house said, "India is a highly strategic market which offers tremendous growth potential. From a global perspective, the world has begun to take notice of the many changes happening in India. The key macro-economic indicators also are showing signs of improvement. The GDP is expected to accelerate over the coming quarters and economic reforms are poised to gather pace. This positive environment presents a wonderful opportunity for investors to plan for their financial future with confidence. At Baroda Pioneer, we remain committed to supporting and further growing our business as well as providing a high level of products and service to our clients
Sanjay Chawla, Chief Investment Officer of Baroda Pioneer Asset Management Company Ltd said. The investment objective of this scheme is to provide investors an opportunity for investing in the markets at a time when India is at the cusp of economic reform. This will eventually reflect in improved economic health of the country translating into better corporate profitability."