Baroda BNP Paribas Small Cap NFO garners ₹1,103 crore: Report

BNP Paribas Baroda Mutual Fund has garnered 1,103 crore through its new small-cap fund offering which was open for subscription between October 6 and October 20, reported Business Line.

The scheme was reopened for investment on Wednesday. This is Baroda BNP Paribas Asset Management’s seventh NFO since the merger of the two entities in March 2022, he said.

The NFO has received wide participation from many investors and distribution partners across cities and towns, claimed Suresh Soni, CEO, Baroda BNP Paribas Asset Management, according to the report.

According to the report, small cap fund is a growing category, although the existing AUM category is relatively small 1.98 lakh crore. The recently launched small-cap fund is a great option for investors looking to create long-term wealth through the Indian equity market, Soni said, as reported by BL.

BNP Paribas Baroda Small Cap Fund invests more than 65 percent of net assets in small-cap companies, he said, adding that the fund follows a bottom-up stock-picking approach with an emphasis on selecting companies with strong fundamentals, models quality business and strong management teams.

The fund is sector agnostic and aims to build wealth for investors by taking advantage of companies that have the potential to become future breakthrough companies, he said.

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Updated: 03 November 2023, 05:56 PM IST

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