Bangalore, June 28 (IANS) Canara Robeco Asset Management Ltd, a joint venture between state-run Canara Bank and Rabobank’s Robeco, launched an open-end equity scheme christened Canara Robeco Large Cap + Fund, the bank said here Monday.
‘The fund will provide capital appreciation by investing in companies with large market capitalization. The new fund offer is open for subscription from Monday to July 27,’ the bank said in a statement.
Fund manager Anand Shah said the performance of the scheme would be benchmarked to the Bombay Stock Exchange (BSE) 100 and invest only in top 150 stocks.
‘Indian large caps are evergreen stocks with a potential to grow along with the Indian economy. Being sturdier, they offer a good investment avenue for a moderate risk investor,’ Shah asserted.
The fund will also provide investors with access to Robeco’s quantitative research expertise based on valuation, momentum and earning revisions.
‘The fund will have a distinctive feature in its investment process. We believe our stock selection model will work well in the Indian capital markets,’ Canara Robeco chief executive Rajnish Narula said in the statement.
‘We believe a large cap fund should be a part of a core holding of any investor’s equity portfolio,’ Shah added.
