Mahindra Manulife Launches Mahindra Manulife Asia Pacific REITs FOF: NFO Closes on October 12
Kotak Mahindra Asset Management Company Limited has launched a new fund offer for Mahindra Manulife Asia Pacific REITs FOF. The fund is open for subscription between September 28, 2021, and October 12, 2021.
Read on to find out more about the NFO.
Investment Objective
Mahindra Manulife Asia Pacific REITs FOF is an open-ended fund of fund scheme investing in Manulife Global Fund – Asia Pacific REIT Fund.
Indicative Asset Allocation
| Types of Instruments | Indicative allocation
(% of total assets) |
Risk Profile | |
| Minimum | Maximum | ||
| Units/shares of Manulife Global Fund – Asia Pacific REIT Fund, an overseas fund primarily investing in real estate investment trusts (REITs) in the Asia Pacific ex-Japan region. ^ | 95% | 100% | Medium to High |
| Debt and Money Market Securities (including TREPS (Tri-Party Repo), Reverse Repo) and/or units of liquid schemes | 0% | 5% | Low to Medium |
^ Investors are requested to note that shares of Manulife Global Fund – Asia Pacific REIT Fund, should be considered as units of the Fund.
Fund Details
| Scheme name | Mahindra Manulife Asia Pacific REITs FOF |
| Type of scheme | An open ended fund of fund scheme investing in Manulife Global Fund – Asia Pacific REIT Fund. |
| NFO Dates | September 28 – October 12, 2021. |
| Fund Managers | Mr. Amit Hiremath, Mr. Amit Garg |
| Benchmark | FTSE EPRA Nareit Asia ex Japan
REITs Index |
| Minimum Amount for Application during NFO | Rs. 5,000/- and in multiples of Rs. 1 for after that |
| Minimum Additional Purchase Amount | Rs. 1000/- and in multiples of Re. 1 for after that |
| Minimum Redemption/Switch-Out Amount | Rs. 1,000/- or 100 units or account balance, whichever is lower. |
| Load | a) Entry Load: N.A
b) Exit Load: On or before completion of 24 months: 10% of the units allotted shall be redeemable without any exit load. Otherwise: An exit load of 1% is payable if units are redeemed/switched out on or before completion of 12 months 0.5% if units are redeemed/ switched-out between 12 months to 24 month Nil – If Units are redeemed / switched-out after completion of 24 months from the date of allotment of units. |
| Plans | Direct and Regular |
| Options | Growth, Income Distribution cum Capital Withdrawal Option / IDCW Option. |
| Minimum SIP Amount | 6 installments of Rs. 1,000/- each and in multiples of Re. 1/- after that |
Benchmark
The Index FTSE EPRA Nareit Asia ex-Japan REITs Index is designed to track the performance of publicly traded Real Estate Investment Trusts (REITs) in countries including, but not limited to, Hong Kong, Malaysia, Singapore and Thailand.
Fund Managers
Mr. Amit Hiremath (Dedicated Fund Manager for Overseas Investments)
Mr. Amit Hiremath has been working as a research Analyst – equity with Mahindra Manulife Investment Management Pvt. Ltd. since June 2017. Before this, he has served as the Assistant Vice President at Anand Rathi Advisors Ltd (Dec 2015 – June 2017), Research Analyst – Equity at B&K Securities. (Feb 2014 – Dec 2015) and Vice President, Enam Asset Management Company Pvt. Ltd. (Jan 2008 – Nov 2012).
Mr. Amit Garg (Debt Portion)
Mr. Amit Garg has been assistant fund manager – Fixed Income with Mahindra Manulife Investment Management Pvt. Ltd since June 2020. Before that, he has worked as Dealer – Fixed Income, with MMIMPL (September 2015 to June 2020), Dealer – Fixed Income, Mahindra & Mahindra Financial Services Limited (April, 2013 to September 2015) and Junior Fund Manager & Dealer at Daiwa Asset Management (India) Pvt. Ltd. (August 2008 to April 2013)
He is also the co-Fund Manager of Mahindra Manulife Overnight Fund, Mahindra Manulife Liquid Fund and Mahindra Manulife Ultra Short Term Fund.