According to the press relaese, the fund will attempt to create alpha through bottom-up stock selection and an appropriate allocation approach to identify opportunities in potentially high growth themes. The fund house also said that presently the fund will have a bias towards domestic recovery themes with investments across key areas like beneficiaries of consolidation due to technology or regulation, ‘back to normal’ or business normalization, new business models which thrive on disruption, China plus one or import substitution etc.
The fund will be managed by Manish Gunwani, CIO – Equity Investments along with Dhrumil Shah, Varun Goenka & Nikhil
(Co-Fund Manager), Kinjal Desai, Fund Manager – Overseas. says, “We believe the current market condition creates an opportunity for investment in Flexi Cap Funds. A Flexi Cap strategy can dynamically adapt to varied market scenarios and thus has the potential to outperform across market cycles. The current macro-economic conditions are favorable for the FlexiCap category as the global economy is expected to grow faster than estimated, Capex Cycle picking up with lower interest rates and liquidity support and earnings are also likely to improve as growth momentum picks up,” said Manish Gunwani, CIO – Equity Investments, Nippon India Mutual Fund.
“The launch of Nippon India Flexi Cap Fund adds to our wide range of investor-centric products and deepens our offerings for the investor community. Flexi Cap is one of the largest categories in the Equity space. The total AUM under the newly created Flexi-cap category stood at Rs 1.76 trillion# as of June-end. With Nippon India Flexi Cap Fund, we aim to deliver better returns by investing in best opportunities across market caps,” Saugata Chatterjee, Co-Chief Business Officer, Nippon India Mutual Fund said.