Mumbai, 16 August 2018. BNP Paribas Asset Management India Pvt Ltd, the Indian arm of BNP Paribas Asset Management today announced the New Fund Offer (NFO) of BNP Paribas India Consumption Fund. This is an open-ended equity fund that seeks to generate capital appreciation and provide long-term growth opportunities by investing in companies that are expected to benefit from the growing consumption (of products and services) needs of Indian consumers. The NFO is available for subscription from 17th to 31stAugust 2018.
The scheme will invest in sectors such as auto, banks, cements, construction (real estate), consumer durables/non-durables, fertilizers, finance, gas (consumer oriented gas distribution), healthcare services, hotels, media & entertainment, pesticides, pharmaceuticals, retailing, telecom services, textile products and related value chain businesses1.
Commenting on the BNP Paribas India Consumption Fund, Sharad Sharma, Managing Director and CEO said, “India has a large and growing consumer market backed by over one billion consumers across income segments. Rising household income, urbanization, the decline in the traditional joint–family structure are some of the key contributors to this growth. Individuals today are also consuming more compared to a decade ago; and this changing consumption pattern is expected to benefit targeted sectors and companies that cater to these needs.”
“We intend to identify companies, across market capitalisations that follow the business-to-consumer model, have a strong competitive advantage and high earnings visibility over the long run.” explained Anand Shah, Deputy Chief Executive Officer and Head of Investments, BNP Paribas Asset Management India Pvt Ltd.
This is the fifteenth fund by BNP Paribas Asset Management India Pvt Ltd since its foray into the Indian market, further strengthening the company’s asset management offerings, which also include Offshore Advisory & Discretionary Portfolio Management services.
BNP Paribas India Consumption Fund will re-open for ongoing subscriptions within five business days from the date of allotment.
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