Canbank MF plans portfolio recast
Kolkata: Canbank Mutual Fund has proposed to rework asset allocation patterns with respect to four of its equity schemes - Canexpo, Canequity Tax Saver, Canglobal and Canpremium - with the view to set these in tune with current market dynamics. The MF hopes to rationalise the investment objectives and asset allocation, said N R Ramanujam, managing director, adding that the changes are necessary in the context of prevailing conditions and investor sentiments.

Canexpo, which invests chiefly in companies with large foreign exchange earnings, will be free to invest up to 100 per cent of its assets in equities, up from the current ceiling of 75 per cent. The minimum equity allocation in this case will be 65 per cent, with a maximum debt content of 35 per cent (in the form of money market instruments). Canglobal, which is primarily focused on equities of multinational companies, can now have a minimum 51 per cent allocation to stocks, the maximum possible being 100 per cent. The current minimum and maximum dispensations are 60 per cent and 80 per cent respectively.
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