Baroda BNP Paribas MF’s Innovation Fund collects over ₹900 crore during NFO period

Baroda BNP Paribas Mutual Fund’s Innovation Fund has mobilised over ₹900 crore from over 31,000 investors during the new fund offer (NFO) period, the mutual fund house said in a statement. The NFO of the scheme closed on February 28.

The scheme has now re-opened for investment from Thursday, March 7, 2024.

Suresh Soni, CEO of Baroda BNP Paribas Mutual Fund said, “India is at an inflection point of innovation with right ecosystem that fosters creativity and enables innovation. With rapid changes, the ability to create differentiation through innovation is a key determinant in long-term success of any business."

"As the Indian economy advances, the fund will continue to seek and aim to invest in firms that drive innovation and set new industry standards. We believe Baroda BNP Paribas Innovation Fund presents an interesting opportunity for investors seeking long-term capital appreciation  in the Indian equity market," he said.

Baroda BNP Paribas Innovation Fund, an open-ended equity scheme, invests in innovation theme.

The fund aims to provide a diversified portfolio devoid of sector or market cap bias, ensuring prudent investment strategies aligned with investor interests.

The fund is suitable for investors aspiring a focused exposure to companies which are innovative/disruptive and to participate in India’s growth and innovation journey, Baroda BNP Mutual Fund said.