Bandhan Mutual Fund announced the launch of the Bandhan Innovation Fund. The scheme opened for public subscription on April 10, 2024, and will close on April 24, 2024.
Sumit Agrawal, Fund Manager at Bandhan AMC, discusses the changes in exposure in various sectors. They have reduced exposure to large private sector banks and moderated exposure in the IT sector. They continue to be overweight in the auto sector, especially two wheelers and two wheelers related OEMs. They are also overweight in the pharma sector, particularly domestic pharma.
For sectors like railways and defence, the fiscal deficit poses a risk, potentially slowing down government driven capex from the current growth rate of 25-30 percent to 10-15 percent, says the CIO-Equity at the fund house
Sumit Agrawal says: "After a long time, we are seeing an uptick in capex, capabilities build up and good visibility on industrial growth. Continued traction in government capex, with some pick up in the private sector as well, along with a consumption pick up sometime in the middle of next year would lead to continued growth surprises in 2024. I remain quite optimistic for India in 2024."
Bandhan Mutual Fund announced the launch of the Bandhan Nifty Smallcap 250 Index Fund. The scheme opened for public subscription on December 12, 2023, and will close on December 19, 2023.