10-year maturity period scheme launched by Sundaram MF
18/12/2014 11:05
Sundaram Mutual Fund has launched a new close ended equity linked savings scheme named “Sundaram Long Term Tax Advantage Fund Series I (10 years)” with maturity period of 10 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 March 20, 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 500 and in multiples of Rs 500 thereafter. The options available under the plan of the scheme are Growth and Dividend Payout option. The performance of the scheme will be benchmarked against S&P BSE 500 Index. S Krishnakumar and Dwijendra Srivastava will be the fund managers of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to generate capital appreciation over a period of 10 years will be met by investing in a portfolio of equity and equity related securities and fixed income & money market securities. Hence, the scheme will allocate 80 to 100 per cent of asset in equity and equity related securities and 0 to 20 per cent of asset in fixed income & money market securities.
18/12/2014 11:05
Sundaram Mutual Fund has launched a new close ended equity linked savings scheme named “Sundaram Long Term Tax Advantage Fund Series I (10 years)” with maturity period of 10 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 March 20, 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 500 and in multiples of Rs 500 thereafter. The options available under the plan of the scheme are Growth and Dividend Payout option. The performance of the scheme will be benchmarked against S&P BSE 500 Index. S Krishnakumar and Dwijendra Srivastava will be the fund managers of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to generate capital appreciation over a period of 10 years will be met by investing in a portfolio of equity and equity related securities and fixed income & money market securities. Hence, the scheme will allocate 80 to 100 per cent of asset in equity and equity related securities and 0 to 20 per cent of asset in fixed income & money market securities.
