Sundaram MF launches “Sundaram Top 100 Series IV (3 years)”; NFO to close on Jan 16
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18 Dec 2014
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| Sundaram Mutual Fund has launched a new close ended equity scheme named “Sundaram Top 100 Series IV (3 years)” with maturity period of 3 years from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription today and will close on January 16, 2015. According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode. The minimum application amount is Rs 5,000 and in multiples of Rs 10 thereafter. The options available under the plan of the scheme are Growth and Dividend Payout options. The performance of the scheme will be benchmarked against CNX 100. Venkatesan J will be the fund manager of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to generate capital appreciation will be met by investing in a portfolio of equity securities specified as eligible securities for RGESS and cash & cash equivalents and money market instruments. Hence, the scheme will allocate 95 to 100 per cent of asset in equity securities specified as eligible securities for RGESS and 0 to 5 per cent of asset in cash & cash equivalents and money market instruments. |
Source: Dion Global Type: Mutual Fund Review
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