Fortis Mutual Fund
Fortis Mutual Fund
You're asking about "Fortis Mutual Fund." It's important to clarify that Fortis Mutual Fund no longer exists as an independent asset management company (AMC) in India. Its operations and schemes have undergone a series of significant mergers and acquisitions over the years.
Here's a breakdown of its history and current status:
Part 1: Introduction, Fund Managers, and Scope
Introduction (Historical Context)
Fortis Mutual Fund was a fleeting name in the Indian asset management landscape. Its journey began as ABN AMRO Mutual Fund in India. Following a global acquisition by the Belgian-Dutch financial group Fortis, ABN AMRO's asset management arm was rebranded, leading to the formation of Fortis Mutual Fund in India around October 2008.
However, the global financial crisis of 2008 significantly impacted Fortis. As a result, its global investment management arm eventually became part of BNP Paribas Asset Management. This global shift led to the rebranding of Fortis Mutual Fund in India to BNP Paribas Mutual Fund in October 2010.
Most recently, in March 2022, BNP Paribas Mutual Fund itself merged its schemes with Baroda Mutual Fund, resulting in the formation of the current entity, Baroda BNP Paribas Mutual Fund.
Therefore, if you're looking for an active mutual fund house under the name "Fortis Mutual Fund," it simply doesn't exist today. Its legacy is now integrated into Baroda BNP Paribas Mutual Fund.
Fund Managers
Given that "Fortis Mutual Fund" is no longer an active entity, there are no fund managers specifically employed by or managing funds directly under the "Fortis Mutual Fund" brand.
The schemes that originated from Fortis Mutual Fund's portfolio (and subsequently became BNP Paribas Mutual Fund schemes) are now managed by the fund management team of Baroda BNP Paribas Mutual Fund. This team comprises experienced professionals such as:
- Mr. Sanjay Chawla: Head of Equities.
- Mr. Pratish Krishnan: Fund Manager (Equity).
- Mr. Jitendra Sriram: Fund Manager (Equity).
- Mr. Prashant R Pimple: CIO - Fixed Income.
- Mr. Vikram Pamnani: Fund Manager.
- Mr. Mayank Prakash: Fund Manager.
Scope and Investment Philosophy
The original scope and investment philosophy of Fortis Mutual Fund would have been aligned with the global strategies of Fortis Investment Management at the time. This would typically have involved offering a range of equity, debt, and hybrid products, driven by their global investment expertise and risk management frameworks.
However, currently, the investment philosophy and scope applicable to the schemes that were once part of Fortis Mutual Fund are now those of Baroda BNP Paribas Mutual Fund. This combined entity leverages the strengths of both sponsors: Bank of Baroda's extensive domestic network and understanding of the Indian market, and BNP Paribas Asset Management's global investment expertise, research capabilities, and sophisticated risk management tools.
Their general investment philosophy now focuses on:
- Robust Research: In-depth fundamental and quantitative research across asset classes.
- Active Management: Aiming to generate alpha (returns above benchmark) through disciplined stock selection for equities and active duration/credit management for fixed income.
- Prudent Risk Management: Implementing comprehensive risk control measures to protect investor capital.
- Diversified Product Portfolio: Offering a wide array of funds across various categories to meet different investor needs and risk appetites.
- Long-Term Wealth Creation: A focus on sustainable growth and consistent performance over the long horizon.
- ESG Integration: Increasingly incorporating Environmental, Social, and Governance (ESG) factors into their investment decision-making processes.
Part 2: List of Funds with Brief Explanation
As established, there are no funds currently listed under the "Fortis Mutual Fund" brand name. All its schemes were transferred, merged, or renamed during its transition, first to BNP Paribas Mutual Fund, and then most recently into Baroda BNP Paribas Mutual Fund.
While providing a definitive list of every single original Fortis fund and its exact current equivalent is complex due to multiple mergers and reclassifications over time, here are examples of the types of funds Fortis Mutual Fund offered, and how they would generally be seen now:
- Equity Funds (e.g., Fortis Equity Fund, Fortis ELSS): These would have been diversified equity schemes or tax-saving funds. Their units would now correspond to schemes like Baroda BNP Paribas Flexi Cap Fund, Baroda BNP Paribas Multi Cap Fund, Baroda BNP Paribas ELSS Tax Saver Fund, or other diversified equity/ELSS schemes within the Baroda BNP Paribas Mutual Fund family, depending on the specific merger terms.
- Debt Funds (e.g., Fortis Liquid Fund, Fortis Short Term Income Fund, Fortis Gilt Fund): These were aimed at short-term cash management, short-duration income, or government securities. Their units would now be part of schemes like Baroda BNP Paribas Liquid Fund, Baroda BNP Paribas Ultra Short Duration Fund, Baroda BNP Paribas Short Duration Fund, Baroda BNP Paribas Government Securities Fund, etc., under Baroda BNP Paribas Mutual Fund.
- Hybrid Funds (e.g., Fortis Balanced Fund): These combined equity and debt. Their units might now be under Baroda BNP Paribas Aggressive Hybrid Fund, Baroda BNP Paribas Balanced Advantage Fund, or similar hybrid categories.
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