The Business Bytes
TBB BUREAU
BHUBANESWAR, JAN 15, 2024
Old Bridge Mutual Fund, supported by Old Bridge Capital Management Private Limited, marked a significant milestone on Wednesday by introducing its inaugural mutual fund scheme. Set to open for subscription from January 17 to 19, the New Fund Offer (NFO) unveils the Old Bridge Focused Equity Fund, an open-ended equity scheme strategically investing in up to 30 stocks.
Distinguished by a market cap-agnostic and sector-agnostic approach, the portfolio is meticulously crafted to participate in the diverse growth opportunities available. Kenneth Andrade, Chief Investment Officer (CIO) at Old Bridge Mutual Fund, emphasized the scheme’s flexibility and adaptability to various market conditions.
Investors have the option to engage through a systematic investment plan (SIP), with a modest initial investment requirement of Rs 2,500 and subsequent multiples of Rs 1. For lump-sum investments, the minimum amount is Rs 5,000. The performance of the scheme will be benchmarked against the S&P BSE 500 TRI.
Andrade elaborated on the fund’s distinctive multi-cap approach, emphasizing its aim to identify businesses with the potential to compound capital over the long term. The fund’s strategy focuses on companies possessing enduring economic moats, thereby exhibiting long-term franchise value and sustained growth potential.
“The launch of the Old Bridge Focused Equity Fund aligns with the unprecedented growth in India’s mutual funds industry, as highlighted by recent data from the industry trade body AMFI. With over 20 million new investment accounts and a 19 per cent increase in fund assets during the first 11 months of 2023, India surpasses global peers like the US, Japan, and China,” remarked Kenneth Andrade, recognizing the dynamic landscape of India’s financial markets.
