Mahindra MF gearing up to start operations

Mahindra Mutual Fund expects to start its operations shortly with the launch of its first fund. It plans to use the 1,100-branch strong network of Mahindra & Mahindra Financial Services for distribution

Ashutosh Bishnoi, managing director & CEO, Mahindra Mutual Fund, expects to get approval to the draft offer documents for the proposed funds shortly before the launch of their first fund. The fund house could see its first new fund offer after a fortnight.

Mahindra MF will be the 43rd Sebi-registered fund, and has filed offer documents with market regulator Securities and Exchange Board of India (Sebi) for four types of funds--Mahindra Mutual Fund Bachat Yojana, Mahindra Mutual Fund Bal Vikas Yojana, Mahindra Mutual Fund Kar Bachat Yojana and Mahindra Liquid Fund.

Talking about Mahindra Asset Management Company, Ramesh G Iyer, vice- chairman & managing director, Mahindra & Mahindra Financial Services, said, “We are going to focus on rural market.”

Keeping the rural market in mind, the fund house has named its products such that rural folks can easily relate them with their financial goals.

For instance, as savings plans has been named as ‘Bachat Yojana”, fund meant for child’s future has been named as “Bal Vikas Yojana”.

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