Maiden NFO of Old Bridge Mutual Fund – Old Bridge Focused Equity Fund closes tomorrow

Old Bridge Mutual Fund sponsored makes its foray in the dynamic Indian mutual fund industry with the launch of new fund offer (NFO) of its first scheme – Old Bridge Focused Equity Fund (OBFE).
Old Bridge Capital Management is not new to Indian capital market. Founded by veteran fund manager Kenneth Andrade the firm manages over INR 80 Billion in assets as of December 2023. OBFE is an open-ended equity scheme that will build a portfolio of maximum 30 stocks of companies of all sizes. Technically termed as a focused multi-cap scheme the scheme will be benchmarked against S&P BSE 500 TRI.
This multi-cap approach is designed to identify businesses with the potential to compound capital over the long term, focusing on companies with enduring economic moats that has long-term franchise value and continued growth potential.
The fund will be managed by Kenneth Andrade and Tarang Agrawal. Andrade has made money for his investors in his stint with IDFC Mutual Fund – (now renamed as Bandhan Mutual Fund). His ability to identify companies at early stage of growth or buying them at the favourable turn of a business cycle, has worked for investors in the past. His buy and hold strategy has ensured that the investors see wealth creation over medium to long term.
The NFO has opened for subscription from January 17, 2024 and will close on January 19, 2024. Minimum lumpsum and SIP investment is kept at Rs 5,000 and Rs 2,500 respectively.
Commenting on the same Kenneth Andrade, CIO of Old Bridge Asset Management Private Limited & Founder Director of Old Bridge Capital Management Private Limited, said. “We are excited to introduce our first equity fund to investors seeking long-term capital appreciation. The fund’s strategy is aligned with our investment philosophy focusing on early-cycle businesses with strong leadership and growth potential”.

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Adding further he said “ The launch of the Old Bridge Focused Equity Fund aligns with the unprecedented growth in India’s mutual funds industry as highlighted by recent data from the industry trade body AMFI. With over 20 million new investment accounts and a 19% increase in fund assets during the first 11 months of 2023, India surpasses global peers like the US, Japan, and China”.
In the past decade, the Indian mutual fund industry has experienced an astounding growth of over six times, surging from approximately Rs 8 lakh crore in 2013 to an impressive Rs 50.8 lakh crore by the end of 2023, as per data released by AMFI.