×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Canara Robeco to merge two mixed asset funds

Canara Robeco to merge two mixed asset funds
Comment E-mail Print Share
First Published: Fri, Feb 22 2008. 12 40 PM IST
Updated: Fri, Feb 22 2008. 12 40 PM IST
Mumbai: Canara Robeco Asset Management Co Ltd said on Friday it has decided to merge Canara Robeco Balance Scheme with Canara Robeco Balance Scheme II.
The combined fund, to be renamed as Canara Robeco Balance, will invest 40-75 % of its assets in equities and the rest in debt and money market instruments.
Both the plans have similar objectives except that while Canara Robeco Balance Scheme’s stock exposure was capped at 60% of the assets, the other fund can invest up to 75% in equities.
The firm, which managed assets worth about Rs29 billion at the end of January, said investors not willing to accept the merger could redeem units without paying any load till 18 March.
Comment E-mail Print Share
First Published: Fri, Feb 22 2008. 12 40 PM IST
More Topics: Fund | Canara | Robeco | Equities | Money Market |