Baroda BNP Paribas Mutual Fund

The below table shows a list Of the Best Baroda BNP Paribas Mutual Funds based on AUM, NAV and minimum SIP.

Name	AUM (Cr)	NAV (Rs)	Minimum SIP (Rs)
Baroda BNP Paribas Liquid Fund	11,399.65	2,886.60	500
Baroda BNP Paribas Balanced Advantage Fund	4,111.83	25.93	1,500
Baroda BNP Paribas Multi Cap Fund	2,758.15	332.86	500
Baroda BNP Paribas Large Cap Fund	2,342.57	268.28	1,500
Baroda BNP Paribas Mid Cap Fund	2,224.88	125.91	500
Baroda BNP Paribas Value Fund	1,700.44	15.66	800
Baroda BNP Paribas Small Cap Fund	1,545.22	14.72	500
Baroda BNP Paribas India Consumption Fund	1,519.57	37.96	500
Baroda BNP Paribas Manufacturing Fund	1,517.54	10.43	500
Baroda BNP Paribas Gilt Fund	1,515.24	44.11	500

Introduction To Baroda BNP Paribas Mutual Fund

Baroda BNP Paribas Liquid Fund

Baroda BNP Paribas Liquid Direct Fund-Growth is a Liquid mutual fund scheme from Baroda Bnp Paribas Mutual Fund. This fund has been in existence for 11 years and 9 months, having been launched on 01/01/2013.

Baroda BNP Paribas Liquid Direct Fund-Growth as a liquid fund, manages assets valued at ₹11,399.65 crore. Over the past 5 years, it has achieved a Compound Annual Growth Rate (CAGR) of 5.35%. This fund has an exit load of 0.01% and an expense ratio of 0.17%. According to SEBI, it falls under the low to moderate-risk category. The fund’s asset allocation comprises No Equity, Debt at 100.15% and Other at -0.15%.

Baroda BNP Paribas Balanced Advantage Fund

Baroda BNP Paribas Balanced Advantage Fund Direct-Growth is a Dynamic Asset Allocation mutual fund scheme from Baroda Bnp Paribas Mutual Fund. This fund has been in existence for 5 years and 11 months, having been launched on 22/10/2018.

Baroda BNP Paribas Balanced Advantage Fund as an advantage fund, manages assets valued at ₹4,111.83 crore. Over the past 5 years, it has achieved a Compound Annual Growth Rate (CAGR) of 19.04%. This fund has an exit load of 1% and an expense ratio of 0.73%. According to SEBI, it falls under the Very High-risk category. The fund’s asset allocation comprises Equity at 56.9%, Debt at 19.96% and Other at 23.24%.

Baroda BNP Paribas Multi Cap Fund

Baroda BNP Paribas Multi Asset Fund Direct-Growth is a Multi Asset Allocation mutual fund scheme from Baroda Bnp Paribas Mutual Fund. This fund has been in existence for 1 year and 10 months, having been launched on 28/11/2022.

Baroda BNP Paribas Multi Asset Fund as a multi-cap fund, manages assets valued at ₹2,758.15 crore. Over the past 5 years, it has achieved a Compound Annual Growth Rate (CAGR) of 26.86%. This fund has an exit load of 1% and an expense ratio of 0.93%. According to SEBI, it falls under the Very High-risk category. The fund’s asset allocation comprises Equity at 70.89%, Debt at 11.95% and Other at 2.95%.

Baroda BNP Paribas Large Cap Fund

Baroda BNP Paribas Large Cap Fund Direct-Growth is a Large Cap mutual fund scheme from Baroda Bnp Paribas Mutual Fund. This fund has been in existence for 11 years and 9 months, having been launched on 01/01/2013.

Baroda BNP Paribas Large Cap Fund as a large-cap fund, manages assets valued at ₹2,342.57 crore. Over the past 5 years, it has achieved a Compound Annual Growth Rate (CAGR) of 21.59%. This fund has an exit load of 1% and an expense ratio of 0.83%. According to SEBI, it falls under the Very High-risk category. The fund’s asset allocation comprises Equity at 93.84%, Debt at 6.1% and Other at 0.06%.

Baroda BNP Paribas Mid Cap Fund

Baroda BNP Paribas Midcap Direct-Growth is a Mid-Cap mutual fund scheme from Baroda Bnp Paribas Mutual Fund. This fund has been in existence for 11 years and 9 months, having been launched on 01/01/2013.

Baroda BNP Paribas Midcap Direct-Growth as a mid-cap fund, manages assets valued at ₹2,224.88 crore. Over the past 5 years, it has achieved a Compound Annual Growth Rate (CAGR) of 30.38%. This fund has an exit load of 1% and an expense ratio of 0.54%. According to SEBI, it falls under the Very High-risk category. The fund’s asset allocation comprises Equity at 96.5%, Debt at 3.48% and Other at 0.02%.

Baroda BNP Paribas Value Fund

Baroda BNP Paribas Value Fund Direct-Growth is a value-oriented mutual fund scheme from Baroda Bnp Paribas Mutual Fund. This fund has been in existence for 1 yrs 4 months, having been launched on 17/05/2023.

Baroda BNP Paribas Value Fund as a value fund, manages assets valued at ₹1,700.44 crore. This fund has an exit load of 1% and an expense ratio of 0.83%. According to SEBI, it falls under the Very High-risk category. The fund’s asset allocation comprises Equity at 94.64%, Debt at 1.87% and Other at 3.49%.

Baroda BNP Paribas Small Cap Fund

Baroda BNP Paribas Small Cap Fund Direct-Growth is a Small Cap mutual fund scheme from Baroda Bnp Paribas Mutual Fund. This fund has been in existence for 1 yrs, having been launched on 06/10/2023. 

Baroda BNP Paribas Small Cap Fund as a small-cap fund, manages assets valued at ₹1,545.22 crore. This fund has an exit load of 1% and an expense ratio of 0.53%. According to SEBI, it falls under the Very High-risk category. The fund’s asset allocation comprises Equity at 94%, Debt at 2.26% and Other at 3.74%.

Baroda BNP Paribas India Consumption Fund

Baroda BNP Paribas India Consumption Fund Direct-Growth is a Thematic-Consumption mutual fund scheme from Baroda Bnp Paribas Mutual Fund. This fund has been in existence for 6 years and 1 month, having been launched on 17/08/2018.

Baroda BNP Paribas India Consumption Fund as a consumption fund, manages assets valued at ₹1,519.57 crore. Over the past 5 years, it has achieved a Compound Annual Growth Rate (CAGR) of 25.27%. This fund has an exit load of 1% and an expense ratio of 0.62%. According to SEBI, it falls under the Very High-risk category. The fund’s asset allocation comprises Equity at 96.36%, Debt at 4.97% and Other at -1.33%.

Baroda BNP Paribas Manufacturing Fund

Baroda BNP Paribas Manufacturing Fund Direct-Growth is a Thematic mutual fund scheme from Baroda Bnp Paribas Mutual Fund. This fund has been in existence for 3 months, having been launched on 10/06/2024.

Baroda BNP Paribas Manufacturing Fund as a manufacturing fund, manages assets valued at ₹1,517.54 crore. This fund has an exit load of 1% and an expense ratio of 0.39%. According to SEBI, it falls under the Very High-risk category. The fund’s asset allocation comprises Equity at 91.41%, Debt at 6.26% and Other at 2.33%.

Baroda BNP Paribas Gilt Fund

Baroda BNP Paribas Gilt Fund is a gilt mutual fund scheme from Baroda Bnp Paribas Mutual Fund. This fund has been in existence for 22 years and 7 months, having been launched on 21/03/2002.

Baroda BNP Paribas Gilt Fund as a gilt fund, manages assets valued at ₹1,515.24 crore. Over the past 5 years, it has achieved a Compound Annual Growth Rate (CAGR) of 6.56%. This fund has an exit load of 1% and an expense ratio of 0.14%. According to SEBI, it falls under the moderate-risk category. The fund’s asset allocation comprises No Equity, Debt at 96.2% and Other at 3.8%.

What is Baroda BNP Paribas Mutual Fund?

Baroda BNP Paribas Mutual Fund is a joint venture between the Bank of Baroda and BNP Paribas Asset Management. Established in 1994, it offers a diverse range of mutual fund schemes catering to various investment needs, including equity, debt and hybrid options.

The fund house aims to provide investors with superior returns through professional management and a disciplined investment approach. Its portfolio is managed by experienced professionals who leverage extensive market research and analysis to optimize investment strategies and manage risk effectively.

Baroda BNP Paribas Mutual Fund emphasizes transparency and investor education, helping clients make informed decisions. The fund house is committed to regulatory compliance and offers convenient online investment platforms, enhancing accessibility for investors looking to grow their wealth.

Baroda BNP Paribas Mutual Fund AMC Details

Baroda BNP Paribas Mutual Fund is a prominent asset management company (AMC) formed through a collaboration between the Bank of Baroda and BNP Paribas Asset Management in 1994. It offers a diverse range of mutual fund schemes catering to various investor needs.

The AMC’s investment philosophy focuses on long-term growth by leveraging extensive research and analysis. Its framework emphasizes the importance of business fundamentals, quality management and reasonable valuations, aiming to identify companies with sustainable growth potential for optimal investor returns.

In the fixed-income segment, Baroda BNP Paribas Mutual Fund employs active management strategies, prioritizing safety, liquidity and returns. Rigorous credit research and effective risk management ensure alignment with investment objectives, enabling the AMC to navigate market fluctuations while minimizing losses.

Baroda BNP Paribas Mutual Fund History

Baroda BNP Paribas Mutual Fund was established in 1994 as a joint venture between the Bank of Baroda and BNP Paribas Asset Management. This collaboration combined local expertise with global investment insights, positioning the fund house as a key player in the Indian mutual fund industry.

Over the years, the fund house has expanded its product offerings, including equity, debt and hybrid schemes. By focusing on transparency and investor education, Baroda BNP Paribas Mutual Fund has aimed to build long-term relationships with its clients and enhance investor confidence.

The AMC has consistently adapted to market changes and regulatory frameworks, ensuring compliance and innovation in its investment strategies. Its commitment to delivering superior risk-adjusted returns has helped it gain recognition and trust among investors in the competitive mutual fund landscape.

Baroda BNP Paribas Mutual Fund Managers

Baroda BNP Paribas Mutual Fund employs a team of experienced fund managers with extensive expertise in various asset classes. Their backgrounds in finance and investment management enable them to develop effective strategies that align with the fund house’s investment philosophy and objectives.

The fund managers utilize a disciplined research process, focusing on in-depth analysis of market trends, company fundamentals and macroeconomic factors. This comprehensive approach ensures that investment decisions are well-informed, aiming to identify opportunities that deliver consistent, long-term returns for investors.

Collaboration among the management team fosters a culture of knowledge-sharing and strategic alignment. This synergy enhances the effectiveness of their investment strategies, allowing Baroda BNP Paribas Mutual Fund to navigate market volatility while pursuing superior risk-adjusted returns across its diverse portfolio.

Baroda BNP Paribas Mutual Fund Portfolio

Baroda BNP Paribas Mutual Fund offers a diverse portfolio encompassing various asset classes, including equity, fixed income and hybrid funds. This diversification aims to cater to different investor profiles, ensuring that each scheme aligns with specific risk appetites and investment goals.

The equity portfolio focuses on growth-oriented companies with sustainable competitive advantages. By applying rigorous research and analysis, the fund managers identify businesses poised for long-term growth, ensuring the portfolio captures potential value across various sectors of the economy.

In fixed-income investments, the portfolio emphasizes safety and liquidity while aiming for attractive returns. The fund managers carefully assess credit quality and market conditions, employing a disciplined approach to manage interest rate risks and optimize yields, aligning with investors’ expectations.

Types of Mutual Funds Offered in Baroda BNP Paribas Mutual Fund

Baroda BNP Paribas Mutual Fund offers various types of mutual funds, including:

Equity Funds: 14 funds focusing on long-term capital growth through investments in stocks.

Debt Funds: 13 funds designed to provide stable income from fixed-income securities.

Hybrid Funds: 6 funds that combine equity and debt for balanced risk and returns.

Index Fund: 1 fund tracking a specific market index for passive investing.

Exchange-Traded Funds (ETFs): 2 funds offering cost-effective diversification through stock market investments.

Thematic Fund: 1 fund focusing on specific investment themes or sectors.

Solution-Oriented Fund: 1 fund targeting specific financial objectives.

International Fund of Funds (FoF): 2 funds investing in overseas mutual funds for global exposure.

Best Baroda BNP Paribas Mutual Fund Based On Expense Ratio

The table below shows the Baroda BNP Paribas Mutual Funds Based on the highest to lowest expense ratio.

Name	Expense Ratio (%)	Minimum SIP (Rs)
Baroda BNP Paribas Equity Savings Fund	1.4	1,500
Baroda BNP Paribas Banking and Fin Serv Fund	0.98	500
Baroda BNP Paribas ELSS Tax Saver Fund	0.97	500
Baroda BNP Paribas Multi Cap Fund	0.93	500
Baroda BNP Paribas Flexi Cap Fund	0.92	500
Baroda BNP Paribas Multi Asset Fund	0.9	500
Baroda BNP Paribas Business Cycle Fund	0.86	500
Baroda BNP Paribas Large Cap Fund	0.83	1,500
Baroda BNP Paribas Value Fund	0.83	800
Baroda BNP Paribas Large & Mid Cap Fund	0.83	500

Top performing Baroda BNP Paribas Mutual Fund To Invest In Based On 3Y CAGR

The table below shows the Top performing Baroda BNP Paribas Mutual Funds Based on the Highest 3Y CAGR.

Name	CAGR 3Y (Cr)	Minimum SIP (Rs)
Baroda BNP Paribas Large & Mid Cap Fund	52.17	500
Baroda BNP Paribas Multi Cap Fund	51.71	500
Baroda BNP Paribas ELSS Tax Saver Fund	50.16	500
Baroda BNP Paribas Mid Cap Fund	50.15	500
Baroda BNP Paribas India Consumption Fund	49.72	500
Baroda BNP Paribas Business Cycle Fund	49.32	500
Baroda BNP Paribas Large Cap Fund	46.58	1,500
Baroda BNP Paribas Flexi Cap Fund	46.15	500
Baroda BNP Paribas Value Fund	44.4	800
Baroda BNP Paribas Focused Fund	41.53	500

Baroda BNP Paribas Mutual Fund List Based On Exit Load

The table below shows the Best Baroda BNP Paribas Mutual funds Based on Exit Load, i.e., the fee that the AMC charges investors when they exit or redeem their fund units.

Name	AMC	Exit Load (%)
Baroda BNP Paribas Dividend Yield Fund	Baroda BNP Paribas Asset Management India Pvt. Ltd.	1
Baroda BNP Paribas Balanced Advantage Fund	Baroda BNP Paribas Asset Management India Pvt. Ltd.	1
Baroda BNP Paribas Multi Cap Fund	Baroda BNP Paribas Asset Management India Pvt. Ltd.	1
Baroda BNP Paribas Large Cap Fund	Baroda BNP Paribas Asset Management India Pvt. Ltd.	1
Baroda BNP Paribas Mid Cap Fund	Baroda BNP Paribas Asset Management India Pvt. Ltd.	1
Baroda BNP Paribas Value Fund	Baroda BNP Paribas Asset Management India Pvt. Ltd.	1
Baroda BNP Paribas Small Cap Fund	Baroda BNP Paribas Asset Management India Pvt. Ltd.	1
Baroda BNP Paribas India Consumption Fund	Baroda BNP Paribas Asset Management India Pvt. Ltd.	1
Baroda BNP Paribas Manufacturing Fund	Baroda BNP Paribas Asset Management India Pvt. Ltd.	1
Baroda BNP Paribas Flexi Cap Fund	Baroda BNP Paribas Asset Management India Pvt. Ltd.	1

Baroda BNP Paribas Mutual Fund Returns

The table below shows the best Baroda BNP Paribas Mutual Fund Returns Based on 1Y return.

Name	Absolute Returns – 1Y (%)	Minimum SIP (Rs)
Baroda BNP Paribas Large & Mid Cap Fund	52.17	500
Baroda BNP Paribas Multi Cap Fund	51.71	500
Baroda BNP Paribas ELSS Tax Saver Fund	50.16	500
Baroda BNP Paribas Mid Cap Fund	50.15	500
Baroda BNP Paribas India Consumption Fund	49.72	500
Baroda BNP Paribas Business Cycle Fund	49.32	500
Baroda BNP Paribas Large Cap Fund	46.58	1,500
Baroda BNP Paribas Flexi Cap Fund	46.15	500
Baroda BNP Paribas Value Fund	44.4	500
Baroda BNP Paribas Focused Fund	41.53	500

Factors To Consider When Investing In Baroda BNP Paribas Mutual Fund

The main factors to consider when investing in Baroda BNP Paribas Mutual Fund include understanding the investment goals, evaluating risk tolerance, assessing the performance track record and considering the expense ratio. These elements are crucial for aligning the fund with your financial objectives.

• Investment Goals: Ensure the fund’s objectives match your personal financial goals, whether you’re seeking long-term growth, regular income, or a mix of both. Different funds cater to varying needs and selecting the right one is key to achieving desired outcomes.
• Risk Tolerance: Evaluate your comfort with market volatility. Equity funds carry higher risk, while debt and hybrid funds offer more stability. Aligning the fund’s risk profile with your risk appetite ensures a smoother investment experience over time.
• Performance Track Record: Review the fund’s past performance, including returns across different market cycles. Although past performance doesn’t guarantee future results, a strong historical record can indicate the fund’s ability to navigate various market conditions effectively.
• Expense Ratio: Consider the fund’s expense ratio, which impacts your net returns. A lower expense ratio can help maximize gains, especially in long-term investments. Compare fees across similar funds to ensure you’re getting value for your money.

Features Of The Baroda BNP Paribas Mutual Fund

The main features of Baroda BNP Paribas Mutual Fund include a diverse range of investment options, a robust research-driven investment approach, active risk management and a focus on long-term wealth creation. These features help investors achieve their financial goals effectively.

• Diverse Investment Options: The fund offers a wide variety of schemes, including equity, debt, hybrid and thematic funds, catering to different investor needs. This diversification allows investors to tailor their portfolios based on risk appetite and financial objectives.
• Research-Driven Approach: Baroda BNP Paribas Mutual Fund employs a thorough research process, focusing on company fundamentals, market trends and macroeconomic factors. This ensures that investment decisions are backed by data, aiming to generate consistent and superior returns.
• Active Risk Management: The fund prioritizes risk management by carefully evaluating market volatility, credit risk and liquidity factors. This approach helps protect investments during adverse market conditions while ensuring potential growth during favourable periods.
• Focus on Long-Term Wealth Creation: The fund emphasizes long-term investment strategies, seeking companies with sustainable growth potential. This focus on growth-oriented businesses and value creation over time makes it an attractive option for wealth accumulation.

Benefits Of Baroda BNP Paribas Mutual Fund

The main benefits of Baroda BNP Paribas Mutual Fund include professional fund management, diversified investment options, potential for long-term growth and a disciplined risk management approach. These benefits make it suitable for investors seeking to build wealth while minimizing risk.

• Professional Fund Management: Experienced fund managers apply in-depth research and expertise to make well-informed investment decisions. Their knowledge of market trends and company fundamentals helps optimize returns while ensuring the portfolio aligns with investor objectives.
• Diversified Investment Options: The fund offers a wide range of schemes across asset classes, allowing investors to diversify their portfolios. This reduces risk by spreading investments across different sectors, geographies and instruments.
• Potential for Long-Term Growth: Baroda BNP Paribas Mutual Fund emphasizes long-term wealth creation by investing in growth-oriented companies. This focus on businesses with sustainable competitive advantages provides opportunities for significant capital appreciation over time.
• Disciplined Risk Management: The fund employs rigorous risk management practices, monitoring market volatility, creditworthiness and liquidity. This proactive approach helps minimize potential losses and ensures steady performance, even during market downturns.

Risks Of Investing In Top Performing Baroda BNP Paribas Mutual Fund

The main risks of Baroda BNP Paribas Mutual Fund include market volatility, credit risk, interest rate fluctuations and liquidity risk. These factors can impact the fund’s performance, making it essential for investors to assess their risk tolerance before investing.

• Market Volatility: Equity funds are susceptible to fluctuations in stock prices, driven by economic conditions, geopolitical events, or company performance. These fluctuations can cause short-term losses, making it important to have a long-term investment horizon.
• Credit Risk: Debt funds carry the risk of the issuer defaulting on interest or principal payments. Lower-rated securities pose higher credit risk, which can affect the overall returns of debt-based mutual funds if issuers fail to meet obligations.
• Interest Rate Risk: Changes in interest rates can impact the value of debt securities. Rising interest rates generally decrease bond prices, potentially leading to losses in debt funds. Investors should consider this risk, especially in funds with longer durations.
• Liquidity Risk: In times of market stress, the fund may face difficulty selling assets at desired prices, especially in less liquid markets. This can delay redemptions or force the fund to sell holdings at unfavourable prices, impacting investor returns.

How To Invest In Baroda BNP Paribas Mutual Fund?

To invest in Baroda BNP Paribas Mutual Fund, you can also use a brokerage platform like Alice Blue. Alice Blue is a popular online brokerage platform that allows you to invest in mutual funds seamlessly. You can register on their platform and explore various mutual fund schemes.

After registering with Alice Blue, you can browse through the Baroda BNP Paribas Mutual Fund offerings and select a scheme that aligns with your financial goals. Alice Blue provides easy access to research tools and performance data, helping you make informed investment decisions.

Investors can choose between lump-sum investments or SIPs (Systematic Investment Plans) through Alice Blue. The platform offers an easy, convenient way to track your investments, manage portfolios and make additional purchases or withdrawals from Baroda BNP Paribas Mutual Fund schemes.

Documents Required To Invest in Baroda BNP Paribas Mutual Fund

To invest in Baroda BNP Paribas Mutual Fund, essential documents include a PAN card and proof of identity such as an Aadhaar card or passport. These are required for completing the KYC process, which is mandatory for all investors in mutual funds.

Additionally, you need to provide your bank account details, including a cancelled cheque or bank statement, to facilitate transactions. For corporate or institutional investors, extra documents like a Certificate of Incorporation and an authorized signatory list are also necessary for investment authorization.

Baroda BNP Paribas Mutual Fund NAV

The NAV (Net Asset Value) of Baroda BNP Paribas Mutual Fund represents the per-unit value of the fund’s assets minus liabilities. It is calculated daily based on the market value of the underlying assets, reflecting the fund’s current market worth.

NAV helps investors determine the price at which they can buy or sell mutual fund units. A higher or lower NAV doesn’t indicate fund performance but helps track changes in value over time based on market fluctuations and fund management.

Taxation On Baroda BNP Paribas Mutual Fund

Taxation on Baroda BNP Paribas Mutual Fund depends on the type of fund and holding period. For equity funds, short-term capital gains (STCG) are taxed at 15% for holdings under one year, while long-term capital gains (LTCG) above ₹1 lakh are taxed at 10%.

For debt funds, STCG is taxed as per the investor’s income tax slab for holdings under three years, while LTCG (for holdings over three years) is taxed at 20% with indexation benefits. Dividends from mutual funds are added to the investor’s income and taxed accordingly.

Future of Baroda BNP Paribas Mutual Fund

The future of Baroda BNP Paribas Mutual Fund looks promising, driven by a growing investor base and increasing awareness of mutual fund investments in India. As more individuals seek diversified investment options, the fund aims to expand its offerings and enhance performance.

Additionally, the mutual fund industry is expected to benefit from technological advancements, enabling smoother transactions and improved customer experience. Baroda BNP Paribas Mutual Fund’s focus on research-driven strategies and disciplined risk management positions it well to capitalize on emerging market opportunities and evolving investor needs.

Top 10 Baroda BNP Paribas Mutual Funds to Invest In India

The table below shows the top 10 Baroda BNP Paribas Mutual Funds to invest in India based on 5Y return.

Name	CAGR 5Y (%)	Minimum SIP (Rs)
Baroda BNP Paribas Mid Cap Fund	30.38	500
Baroda BNP Paribas Multi Cap Fund	26.86	500
Baroda BNP Paribas India Consumption Fund	25.27	500
Baroda BNP Paribas ELSS Tax Saver Fund	21.64	500
Baroda BNP Paribas Large Cap Fund	21.59	1,500
Baroda BNP Paribas Focused Fund	21.41	500
Baroda BNP Paribas Aggressive Hybrid Fund	20.28	500
Baroda BNP Paribas Balanced Advantage Fund	19.04	1,500
Baroda BNP Paribas Banking and Fin Serv Fund	15.26	500
Baroda BNP Paribas Equity Savings Fund	10.86	1,500

FAQs – Baroda BNP Paribas Mutual Fund

Disclaimer: The above article is written for educational purposes and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.