Bank of India Multi Asset Allocation Fund is a new open-ended fund launched on February 7th, 2024, aiming for long-term capital growth through a mix of equity, debt, and gold investments. It has a minimum investment of Rs 5,000 and offers indexation benefits for tax purposes. While there’s no exit load after one year, there’s a 1% charge for redeeming more than 10% of your initial units within the first year. Keep in mind, that the fund doesn’t guarantee any returns and carries a “Very High” risk rating. Consider your investment goals and risk tolerance before investing.
The scheme’s investment objective is to seek long-term capital growth by predominantly investing in equity and equity-related securities, debt & money market instruments and Gold ETF.
Risk-o-meter – Scheme: High Risk, Benchmark: High Risk
| Instruments | Indicative allocation (% of total assets) (Minimum – Maximum) | Risk Profile |
| Equity & equity related instruments | 35%-40% | Very High |
| Debt and Money Market instruments | 45%-55% | Low to Medium |
| Gold ETF | 10%-15% | High |
| Units issued by REITs and INVITS | 0 to 10% | Not Specified |
Money Market instruments include commercial papers, commercial bills, treasury bills, Government securities having an unexpired maturity of up to one year, call or notice money, certificate of deposit, usance bills, and any other like instruments as specified by the Reserve Bank of India mutual fund from time to time.
The performance of the scheme will be benchmarked to the performance of 37.50% of Nifty 500 TRI + 50% of NIFTY Composite Debt Index + 12.50% of Domestic Prices of Gold.
The Nifty large-midcap 250’s performance is determined by taking the Nifty Midcap 150 and Nifty 100 indexes, which, respectively, reflect a portfolio of 150 midcap and 100 big-cap companies listed on the NSE. Large-cap stocks and mid-cap businesses have their aggregate weight reset to 50% each every quarter.
Alok Singh (Chief Investment Officer) Age: 46 years, Qualification: B.Com, PGDBA and CFA, Around 21 years of Experience including 16 years in Mutual Fund industries.
Mithraem Bharucha (Fund Manager), Age: 40 years, Qualification: BMS, MBA and MCOM Part I, Over 15 years of experience in Fixed Income market domain, Investment strategy development, Trade idea generation, Trade execution, Cash Management, Fixed Income portfolio monitoring, Cash flow verification.
| Scheme Name | AuM (Cr) | 6M | 1Y | 2Y | 3Y | 5Y | 10Y |
| Quant Multi Asset Fund – Direct Plan – Growth | 1,455.83 | 25% | 39% | 22% | 34% | 28% | 17% |
| UTI Multi Asset Allocation Fund – Direct Plan – Growth | 1,152.38 | 21% | 36% | 20% | 16% | 14% | 12% |
| HDFC Multi-Asset Fund – Direct Plan – Growth | 2,405.89 | 11% | 22% | 14% | 14% | 16% | 12% |
| Tata Multi Asset Opportunities Fund – Direct Plan – Growth | 2,380.74 | 13% | 24% | 15% | 16% | – | – |
| Axis Multi Asset Allocation Fund – Direct Plan – Growth | 1,204.17 | 7% | 15% | 6% | 9% | 14% | 11% |
| Nippon India Multi Asset Fund – Direct Plan – Growth | 2,543.08 | 14% | 25% | 15% | 14% | – | – |
| ICICI Prudential Multi-Asset Fund – Direct Plan – Growth | 32,831.03 | 14% | 28% | 19% | 24% | 21% | 18% |
| SBI Multi Asset Allocation Fund – Direct Plan – Growth | 3,626.55 | 12% | 28% | 16% | 15% | 15% | 12% |
| Motilal Oswal Multi Asset Fund – Direct Plan – Growth | 102.63 | 4% | 16% | 9% | 8% | – | – |
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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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