Sundaram MF launches “Sundaram Fixed Term Plan GK”
03/09/2014 10:21
Sundaram Mutual Fund has launched a new close ended income scheme named “Sundaram Fixed Term Plan GK” with maturity period of 1120 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 September 2 and will close on September 10.
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 option available under the Plan of the Scheme is Growth and Dividend option.
The performance of the scheme will be benchmarked against CRISIL Short Term Bond Fund Index. Sandeep Agarwal 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 income will be met by investing in a portfolio of debt & money market instruments. Hence, the scheme will allocate 0 to 30 per cent of asset in money market instruments and 70 to 100 per cent of asset in short term and medium term debt instruments.
03/09/2014 10:21
Sundaram Mutual Fund has launched a new close ended income scheme named “Sundaram Fixed Term Plan GK” with maturity period of 1120 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 September 2 and will close on September 10.
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 option available under the Plan of the Scheme is Growth and Dividend option.
The performance of the scheme will be benchmarked against CRISIL Short Term Bond Fund Index. Sandeep Agarwal 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 income will be met by investing in a portfolio of debt & money market instruments. Hence, the scheme will allocate 0 to 30 per cent of asset in money market instruments and 70 to 100 per cent of asset in short term and medium term debt instruments.
