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BNP Paribas Income and Gold Fund

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BNP Paribas Mutual Fund has launched an open-ended debt scheme – the BNP Paribas Income & Gold Fund. This fund will be the 2nd of its kind in the Indian mutual fund universe.

 

Investment Objective
The fund's primary objective is to generate income from a portfolio that will invest in debt and money market securities, along with investments in Gold ETFs.

 

Investment Strategy
This scheme will invest 65-90 per cent of its assets in corporate bonds, PSU bonds, etc, with residual maturity of more than 365 days. It will also invest up to -35 per cent of its portfolio in Gold ETFs.

 

Similar Funds
Currently, there is only one such fund – Canara Robeco InDiGo – that invests in debt securities as well as in Gold ETFs. As on April 2012, this fund had 61 per cent of its assets in debt, 33 per cent in gold ETFs and the rest in cash. It has earned returns of 13.5 per cent in the last 1 year.

 

Returns (%)

Index

1-Year

3-Year

5-Year

CRISIL Short-term Bond Index

8.28

6.42

7.56

Prices of Gold

35.24

22.80

24.57

Data as on April 30, 2012

 

 

 

 

Fund Manager
Mr. Puneet Pal will be this fund's manager. He is a Commerce Graduate & MBA from SIBM, Pune. Mr. Pal started his career as a Dealer with UTI AMC in July 2001, then became an Assistant Fund Manager in December 2003 and was designated as a Fund Manager with Tata AMC in September 2006. In August 2008, he again joined UTI AMC as Sr. Vice President. Now, from February 16, 2012, Mr. Puneet Pal has joined BNP Paribas MF as Deputy Head-Fixed Income. He also manages BNP Paribas Flexi Debt, BNP Paribas Money Plus, BNP Paribas Bond and BNP Paribas Fixed Term Plans.

 

Fund House
BNP Paribas Mutual Fund has been in the asset management business for more than 7 years. Currently, it has 4 equity & 7 debt schemes, excluding FMPs. As on March 31, 2012, it's average assets stand at Rs. 4421 crores.

 

Basic Details
NFO Opens: May 17, 2012
NFO Price: Rs.10 per unit
Options: Growth & Dividend (with payout & re-investment option)
Minimum Application Amount for Lump-sum: Rs.5000/-
Minimum Application Amount for SIP: Rs.500/-
Exit Load: 1% if exited within 12 months & 0.50% if exited after 12 months but before 18 months
Benchmark: CRISIL Short-term Bond Fund Index + Price of Gold

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