Mahindra Mutual Fund Bal Vikas Yojana and Mahindra Mutual Fund Badhat Yojana are two open-ended schemes that Mahindra group is going to launch soon. As per the latest announcement, MAMCPL (Mahindra Asset Management Company Pvt Ltd ) will launch two open-ended schemes; Mahindra Mutual Fund Bal Vikas Yojana and Mahindra Mutual Fund Badhat Yojana.
Mahindra Mutual Fund Bal Vikas Yojana
Mahindra Mutual Fund Bal Vikas Yojana is a new mutual fund scheme to be launched by Mahindra Group. Under the scheme, one can make investments in Mutual fund in the name of his/her minor child. On similar grounds of Sukanya Samridhi Yojana, where parents can deposit funds in the name of a girl child, the Mahindra Bal Vikas Yojana also allows applicants to invest in an open-ended scheme in the name of their child(girl/boy). Once the child turns 18 years old, the funds can be withdrawn by the child himself.
Salient Features of Mahindra Mutual Fund Bal Vikas Yojana
- Bal Vikas Yojana by Mahindra is an an open ended balanced scheme
- The key objective of the scheme is to generate capital appreciation and income generation over a period of time
- One can invest in Mahindra Bal Vikas Yojana over a medium to long term through investment in equity and equity related instruments as well as debt and money market instruments
- Mutual Fund Investment can only be made in the name of minor child
- The investment can be made by any family member and friends
- There is a lock-in period in Mahindra Mutual Fund Bal Vikas Yojana which is optional till the child turns out to be 18 years
Mahindra Mutual Fund Badhat Yojana
Another scheme to be launched by Mahindra Group is Mahindra Mutual Fund Badhat Yojana. As per its name, the scheme aims to deliver long term capital appreciation to users. Similar to Mutual Fund Bal Vikas Yojana, the Badhat yojana is also an open ended equity scheme which is best suited for investors seeking medium to long-term capital appreciation through investment predominantly in equity and equity related securities including derivatives.
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