Canara Robeco Innovation Fund: 7 things to know about the new fund filed with SEBI

The proposed scheme will use the Nifty 500 TRI as its benchmark and is aimed at investors seeking long-term capital appreciation. The draft Scheme Information Document (SID), however, does not yet specify the dates for the New Fund Offer (NFO).

2. The scheme is intended for investors seeking long-term capital appreciation through investments predominantly in equity and equity-related instruments linked to the innovation theme.

3. The proposed fund will use the Nifty 500 TRI (Total Return Index) as its benchmark, as specified in the draft SID.

4. The draft document does not provide an actual portfolio because the scheme has not yet been launched. It states that the product labelling assigned during the NFO is based on the AMC's internal assessment of the scheme characteristics or model portfolio.

The document also notes that this assessment may vary after the NFO when actual investments are made.

5. The draft SID specifies that investments will be made predominantly in companies that are engaged in, or are expected to benefit from, the innovation theme. The document therefore defines the broad investment mandate around the theme rather than providing a list of specific companies at this stage.

6. The draft document currently does not provide the NFO opening date, NFO closing date or the date on which the scheme will reopen.

7. The document is a draft Scheme Information Document filed with SEBI. It is not an announcement that the scheme is currently open for subscription.

The draft itself states that the units being offered have not been approved or recommended by SEBI and that investors should check for any subsequent changes to the Scheme Information Document before investing.