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BoI MF aims to raise Rs 500 cr from multi-asset allocation fund in NFO
Bank of India Mutual Fund is targeting to garner at least Rs 500 crore through its newly launched multi-asset allocation fund during the primary subscription period.
The new fund offer (NFO) of Bank of India Multi Asset Allocation Fund, which opened for subscription on February 7, will close on February 21.
The new scheme is designed for investors who are seeking low volatility in their portfolio and exposure to multiple asset classes -- equity, debt and gold -- with better returns.
On the fundraising target, Mohit Bhatia, CEO of Bank of India Investment Managers Private Ltd, told PTI, "We have kept an internal target of at least Rs 500 crore collections across our distribution channels during the NFO period."
He said that the new scheme is aiming to capture the positives of the three asset classes.
"The structural outlook on Indian equities continues to be quite good over the long term. Further, the general outlook on global and domestic interest rates seems to point to a likelih