Baroda BNP Paribas Mutual Fund has mopped up ₹1,103 crore through its new fund offer on small-cap which was open for subscription between October 6-20. The scheme reopened for investment on Wednesday.

This is the seventh NFO by Baroda BNP Paribas Asset Management since the two entities merged in March, 2022.

Suresh Soni, CEO, Baroda BNP Paribas Asset Management said the NFO has received wide participation from many investors and distribution partners across cities and towns.

Growing category

Small-cap fund is a growing category, even though the existing category AUM is relatively modest at ₹1.98 lakh crore and the newly launched small cap fund is an ideal option for investors seeking long-term wealth creation through Indian equity market, he added.

The Baroda BNP Paribas Small Cap Fund invests more than 65 per cent of the net assets into small-cap companies. The fund follows a bottom-up stock-picking approach with emphasis on selecting companies with strong fundamentals, quality business models and strong management teams. The fund is sector-agnostic and aims to build wealth for investors by tapping into companies which have the potential to become leading companies in future.