Bank of India Mutual Fund
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Bank of India Funds
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| Scheme Name | NAV | AUM (Cr.) | Rating | 1Y Returns | 3Y Returns | 5Y Returns | Exp. Ratio |
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Bank of India Mutual Funds Overview
Bank of India Mutual Funds (BOI MF) began its journey in 2008 when Bharti AXA received a mutual fund license. In the initial year, the company started with three schemes: BOI AXA Ultra Short Duration Fund, BOI AXA Large & Mid Cap Equity Fund, and BOI AXA Short Term Income Fund.
In May 2012, BOI acquired 51% of holdings in AXA, and the company changed its name to BOI AXA Investment Managers. That same year, the company launched SIP + Life Insurance Cover under the name SIP Shield. Over the years, the company launched various schemes in different categories to suit the objectives of various investors.
In 2021, BOI became the sole sponsor after acquiring 100% of BOI AXA Trustee Services Pvt. Ltd. and BOI AXA Investment Managers Pvt. Ltd. As of 30th April 2024, Mutual funds in BOI had 3.7 lakhs+ investors along with an Asset Under Management at ₹7562.65 crores (subject to change with time).
Seasoned professionals lead the management team at BOI MF. Mohit Bhatia, the MD and CEO, and Chief Investment Officer Alok Singh steer the fund house towards its goals. KFIN Technologies Pvt. Limited is the registrar and transfer agent for BOI MF, ensuring seamless transaction processing for investors.
Some of the best BOI mutual funds you can invest in are:
- Bank of India Ultra Short Duration Fund
- Bank of India Credit Risk Fund
- Bank of India Balanced Advantage Fund
- Bank of India Bluechip Fund
- Bank of India Manufacturing And Infrastructure Fund
- Bank of India Elss Tax Saver
- Bank of India Multi Cap Fund
Some of the key benefits of investing in top BOI mutual funds are:
- Diversification :BOI Mutual Funds is noted for its diversification across different asset classes. The fund managers pool money from you and other investors with the same investment objectives and invest the capital into a meticulously curated portfolio across different sectors, market caps, bonds, short-term government securities, and more.A diversified portfolio lowers the risk that you may face if you invest in a single asset class. Expert fund managers constantly adjust the portfolio to minimize your exposure to any single downfall.
- Low Investment Threshold: When you compare the BOI schemes to buying stocks directly, BOI mutual funds allow you to start investing with much smaller sums of Rs 500 through SIP. This makes them perfect for beginners or those with limited capital.
- Liquidity: While some BOI mutual fund categories, such as Bank of India ELSS Tax Saver Fund, have lock-in periods, many offer easy redemption options. This gives you a degree of liquidity, allowing you to access your funds when needed. For example, BOI open-ended funds allow you to redeem your investment at the NAV on any business day. The settlement time is usually T+2 days but varies slightly based on the fund category.
- Tax Benefits: Depending on the type of BOI mutual fund scheme, you can enjoy tax advantages. Equity funds held for over one year attract lower capital gains tax than short-term holdings. Also, gains on long-term holdings are tax-exempt up to Rs 1 lakh. Bank of India Elss Tax Saver also offers tax deductions under Section 80C of the Income Tax Act up to Rs 1.5 lakhs.
- Potential for Competitive Returns: Historical returns suggest that BOI equity mutual funds have the ability to generate competitive returns. For example,the Bank of India Large & Mid Cap Equity Fund has delivered around 43% returns in one year, compared to the 36.6% returns of its benchmark. While past performance doesn't guarantee future results, professional management can significantly increase your potential for long-term wealth creation.
- Long-term Wealth Creation: BOI MF allows you to invest a fixed amount of money in its schemes at regular intervals, regardless of the prevailing market price. By doing so, you acquire units of the investment at various price points, effectively averaging out the cost per unit over time. This approach means that you acquire more units when market prices are down and fewer units when prices are high. This approach helps limit the impact of market fluctuations and can potentially improve long-term returns.
BOI mutual funds can be suitable for you based on your investment goals and risk appetite. Depending on your chosen scheme, the capital you invest is spread across multiple stocks or fixed-income securities. For example, if you invest Rs 5,000 in BOI Bluechip Funds, this amount is invested in the stocks of Reliance Industries, NTPC, HDFC Bank, and many other noted companies in this scheme. If, due to sectoral impact or any other factor, one or two stocks in the portfolio are not performing well in the short term, other stocks in the portfolio can balance the returns.
If the fund managers of BOI mutual funds believe that any asset class in the portfolio is about to face a major dip in turnover due to stringent government norms or market sentiments, they rebalance the portfolio by redeeming the units of those stocks and adding different stocks to the scheme. This active management adds a layer of security to the portfolio.
Additionally, BOI mutual funds operate under the purview of the Securities and Exchange Board of India (SEBI). BOI AMC regularly publishes reports on changes in fund managers, portfolio holdings, expense ratios, NAV, assets under management, and other necessary details to ensure they comply with SEBI rules. The regulator also ensures the safety of your investment by keeping track of fraudulent or suspicious transactions or deals that can impact the market as a whole.
All these facts make investment in BOI mutual fund company lucrative for investors given that due diligence is performed before making any investment decision.
If you want to invest in a BOI MF through Dhan, you can do so through their website or dedicated application without visiting the Bank of India AMC branch in person.
Let's understand the Dhan app investment process.
- Step 1: Unlock your smartphone and browse to the Google Play Store. If you are an iPhone user, navigate to the App Store and hunt for and install the 'Dhan App.'
- Step 2: Open the app to finish the initial registration by providing your mobile number and then tapping on 'I'm Ready to Trade.'
- Step 3: Check your smartphone for a one-time password (OTP). Enter the same and tap on 'Proceed Ahead.'
- Step 4: Input your email address and set the MPIN to avoid unauthorized access to the platform.
- Step 5: Share your PAN, birth details, and Aadhar number to finish onboarding by opening a demat account.
- Step 6: Move to the 'Mutual Funds' section, and in the search bar, type the best BOI mutual funds. A list of schemes detailing NAV, AUM, and returns will appear on your screen.
- Step 7: Choose the top BOI mutual fund scheme that aligns with your objective and investment horizon.
- Step 8: Decide whether you want to invest in a BOI lump sum plan or SIP (systematic investment plan). If you choose the former, enter the contribution amount. If you decide to SIP, select the day of the month you wish the AMC to deduct the amount from your bank account automatically.
- Step 9: After selecting the payment mode, you will receive an SMS and OTP to confirm the transaction.
- Step 10: Once the transaction is complete, you can regularly visit the Dhan app to track your investment performance and compare it with its benchmark.
The BOI SIP plan allows you to invest a fixed sum that can be as low as Rs 500 every month or quarter in the fund of your choice. Investors ideally prefer this method to enjoy the benefits of rupee cost averaging and compounding. On the other hand, with a BOI lump sum plan, you make a one-time contribution and aim to benefit from the lower NAV by acquiring more units when the market is down.
If you are proceeding with a BOI SIP, understanding the projected returns to align it with your objective is crucial. While manual computations involve lengthy formulas prone to error, you can use the BOI SIP calculator.
Bank of India Mutual Funds (BOI MF) began its journey in 2008 when Bharti AXA received a mutual fund license. In the initial year, the company started with three schemes: BOI AXA Ultra Short Duration Fund, BOI AXA Large & Mid Cap Equity Fund, and BOI AXA Short Term Income Fund.
In May 2012, BOI acquired 51% of holdings in AXA, and the company changed its name to BOI AXA Investment Managers. That same year, the company launched SIP + Life Insurance Cover under the name SIP Shield. Over the years, the company launched various schemes in different categories to suit the objectives of various investors.
In 2021, BOI became the sole sponsor after acquiring 100% of BOI AXA Trustee Services Pvt. Ltd. and BOI AXA Investment Managers Pvt. Ltd. As of 30th April 2024, Mutual funds in BOI had 3.7 lakhs+ investors along with an Asset Under Management at ₹7562.65 crores (subject to change with time).
Seasoned professionals lead the management team at BOI MF. Mohit Bhatia, the MD and CEO, and Chief Investment Officer Alok Singh steer the fund house towards its goals. KFIN Technologies Pvt. Limited is the registrar and transfer agent for BOI MF, ensuring seamless transaction processing for investors.
Some of the best BOI mutual funds you can invest in are:
- Bank of India Ultra Short Duration Fund
- Bank of India Credit Risk Fund
- Bank of India Balanced Advantage Fund
- Bank of India Bluechip Fund
- Bank of India Manufacturing And Infrastructure Fund
- Bank of India Elss Tax Saver
- Bank of India Multi Cap Fund
Some of the key benefits of investing in top BOI mutual funds are:
- Diversification :BOI Mutual Funds is noted for its diversification across different asset classes. The fund managers pool money from you and other investors with the same investment objectives and invest the capital into a meticulously curated portfolio across different sectors, market caps, bonds, short-term government securities, and more.A diversified portfolio lowers the risk that you may face if you invest in a single asset class. Expert fund managers constantly adjust the portfolio to minimize your exposure to any single downfall.
- Low Investment Threshold: When you compare the BOI schemes to buying stocks directly, BOI mutual funds allow you to start investing with much smaller sums of Rs 500 through SIP. This makes them perfect for beginners or those with limited capital.
- Liquidity: While some BOI mutual fund categories, such as Bank of India ELSS Tax Saver Fund, have lock-in periods, many offer easy redemption options. This gives you a degree of liquidity, allowing you to access your funds when needed. For example, BOI open-ended funds allow you to redeem your investment at the NAV on any business day. The settlement time is usually T+2 days but varies slightly based on the fund category.
- Tax Benefits: Depending on the type of BOI mutual fund scheme, you can enjoy tax advantages. Equity funds held for over one year attract lower capital gains tax than short-term holdings. Also, gains on long-term holdings are tax-exempt up to Rs 1 lakh. Bank of India Elss Tax Saver also offers tax deductions under Section 80C of the Income Tax Act up to Rs 1.5 lakhs.
- Potential for Competitive Returns: Historical returns suggest that BOI equity mutual funds have the ability to generate competitive returns. For example,the Bank of India Large & Mid Cap Equity Fund has delivered around 43% returns in one year, compared to the 36.6% returns of its benchmark. While past performance doesn't guarantee future results, professional management can significantly increase your potential for long-term wealth creation.
- Long-term Wealth Creation: BOI MF allows you to invest a fixed amount of money in its schemes at regular intervals, regardless of the prevailing market price. By doing so, you acquire units of the investment at various price points, effectively averaging out the cost per unit over time. This approach means that you acquire more units when market prices are down and fewer units when prices are high. This approach helps limit the impact of market fluctuations and can potentially improve long-term returns.
BOI mutual funds can be suitable for you based on your investment goals and risk appetite. Depending on your chosen scheme, the capital you invest is spread across multiple stocks or fixed-income securities. For example, if you invest Rs 5,000 in BOI Bluechip Funds, this amount is invested in the stocks of Reliance Industries, NTPC, HDFC Bank, and many other noted companies in this scheme. If, due to sectoral impact or any other factor, one or two stocks in the portfolio are not performing well in the short term, other stocks in the portfolio can balance the returns.
If the fund managers of BOI mutual funds believe that any asset class in the portfolio is about to face a major dip in turnover due to stringent government norms or market sentiments, they rebalance the portfolio by redeeming the units of those stocks and adding different stocks to the scheme. This active management adds a layer of security to the portfolio.
Additionally, BOI mutual funds operate under the purview of the Securities and Exchange Board of India (SEBI). BOI AMC regularly publishes reports on changes in fund managers, portfolio holdings, expense ratios, NAV, assets under management, and other necessary details to ensure they comply with SEBI rules. The regulator also ensures the safety of your investment by keeping track of fraudulent or suspicious transactions or deals that can impact the market as a whole.
All these facts make investment in BOI mutual fund company lucrative for investors given that due diligence is performed before making any investment decision.
If you want to invest in a BOI MF through Dhan, you can do so through their website or dedicated application without visiting the Bank of India AMC branch in person.
Let's understand the Dhan app investment process.
- Step 1: Unlock your smartphone and browse to the Google Play Store. If you are an iPhone user, navigate to the App Store and hunt for and install the 'Dhan App.'
- Step 2: Open the app to finish the initial registration by providing your mobile number and then tapping on 'I'm Ready to Trade.'
- Step 3: Check your smartphone for a one-time password (OTP). Enter the same and tap on 'Proceed Ahead.'
- Step 4: Input your email address and set the MPIN to avoid unauthorized access to the platform.
- Step 5: Share your PAN, birth details, and Aadhar number to finish onboarding by opening a demat account.
- Step 6: Move to the 'Mutual Funds' section, and in the search bar, type the best BOI mutual funds. A list of schemes detailing NAV, AUM, and returns will appear on your screen.
- Step 7: Choose the top BOI mutual fund scheme that aligns with your objective and investment horizon.
- Step 8: Decide whether you want to invest in a BOI lump sum plan or SIP (systematic investment plan). If you choose the former, enter the contribution amount. If you decide to SIP, select the day of the month you wish the AMC to deduct the amount from your bank account automatically.
- Step 9: After selecting the payment mode, you will receive an SMS and OTP to confirm the transaction.
- Step 10: Once the transaction is complete, you can regularly visit the Dhan app to track your investment performance and compare it with its benchmark.
The BOI SIP plan allows you to invest a fixed sum that can be as low as Rs 500 every month or quarter in the fund of your choice. Investors ideally prefer this method to enjoy the benefits of rupee cost averaging and compounding. On the other hand, with a BOI lump sum plan, you make a one-time contribution and aim to benefit from the lower NAV by acquiring more units when the market is down.
If you are proceeding with a BOI SIP, understanding the projected returns to align it with your objective is crucial. While manual computations involve lengthy formulas prone to error, you can use the BOI SIP calculator.
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