On October 29, 2026, important updates were announced in the mutual fund industry that investors should know. These include ICICI Mutual Fund's new Sector Rotation Long-Short Fund filing, a fund manager designation change at HDFC Mutual Fund, and an income distribution payout by Baroda BNP Paribas Mutual Fund.
- ICICI Mutual Fund launched a new long-short equity scheme with a unique investment strategy.
- HDFC AMC updated the designation of a key fund manager to enhance fund management clarity.
- Baroda BNP Paribas Mutual Fund declared an income distribution cum capital withdrawal (IDCW) payout for its investors.
What is ICICI Mutual Fund's new Sector Rotation Long-Short Fund?
ICICI Mutual Fund has filed a new scheme called the Sector Rotation Long-Short Fund. This fund aims to generate long-term capital appreciation by investing mainly in equity and equity-related securities. It also takes limited short exposure through unhedged derivative positions across up to four sectors.
The scheme’s New Fund Offer (NFO) price is set at ₹10 per unit, with no entry load. However, an exit load of 1% of the Net Asset Value (NAV) applies if units are redeemed or switched out within 12 months of allotment. No exit load applies after 12 months.
The fund offers a growth option and will be benchmarked against the NIFTY 500 Total Return Index (TRI). The minimum application amount is ₹10 lakh, with additional investments allowed in multiples of ₹1. The scheme targets a minimum collection of ₹10 crore.
Who is the new fund manager at HDFC Mutual Fund?
HDFC Mutual Fund has announced a change in the designation of Paul S Parampreet. Previously a Member of the Investment Team (Equity), he has been redesignated as Fund Manager – Equities, effective immediately.
This change has been updated in the Scheme Information Document (SAI) under the ‘Information on Key Personnel’ section. The Asset Management Company (AMC) confirmed that all other contents of the SAI remain unchanged and that this addendum forms an integral part of the document.
What is the IDCW payout declared by Baroda BNP Paribas Mutual Fund?
Baroda BNP Paribas Mutual Fund has declared an income distribution cum capital withdrawal (IDCW) payout. The record date for this payout is November 2, 2026, or the next business day if November 2 is not a business day.
The distribution amount is ₹0.11 per unit, based on a face value of ₹10 per unit. This payout applies under the Regular Plan – IDCW Option.
Frequently Asked Questions
Q: What is the minimum investment required for ICICI's new Sector Rotation Long-Short Fund?
A: The minimum application amount is ₹10 lakh, with additional investments allowed in multiples of ₹1.
Q: Will there be any exit load for ICICI's new fund?
A: Yes, an exit load of 1% applies if units are redeemed or switched out within 12 months of allotment. No exit load applies after 12 months.
Q: Who is the new fund manager at HDFC Mutual Fund?
A: Paul S Parampreet has been redesignated as Fund Manager – Equities at HDFC Mutual Fund.
Q: When is the record date for Baroda BNP Paribas Mutual Fund's IDCW payout?
A: The record date is November 2, 2026, or the next business day if November 2 is not a business day.
