Sundaram Mutual Fund launches New Close Ended Scheme
|
22 May 2015
|
| Sundaram Mutual Fund has launched a new close ended hybrid scheme named “Sundaram Hybrid Fund - Series M” with maturity period of 1300 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on May 19 and will close on May 28. 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 be not 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 option. The performance of the scheme will be benchmarked against CRISIL MIP Blended Index. Siddharth Chaudhary and Shiv Chanani will be the fund managers of the scheme. The asset allocation of the scheme will be in such a way that the objective of the scheme to generate capital appreciation and current income will be met by investing in a judicious mix of investments in equities and fixed income securities. Hence, the scheme will allocate 55 to 90 per cent of asset in Fixed Income Securities, 0 to 20 per cent of asset in Money Market Instruments and Cash Equivalents and 10 to 45 per cent of asset in Equity and Equity related Instruments. |
Source: Dion Global Type: Mutual Fund Review
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback