Sundaram Mutual Fund launches new Close Ended Scheme
21/04/2015 09:55
Sundaram Mutual Fund has launched a new close ended income scheme named “Sundaram Fixed Term Plan GW” with maturity period of 1100 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 April 21 and will close on April 23.
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 Composite Bond Fund Index. Sandeep Agarwal will be the fund manager of the scheme.
The asset allocation of the scheme will be in such a way that the objective of the scheme to generate income will be met by investing in debt and money market securities, which mature on or before the maturity of the scheme. Hence, the scheme will allocate 80 to 100 per cent of asset in Short Term and medium term Debt Instruments and 0 to 20 per cent of asset in Money Market Instruments.
21/04/2015 09:55
Sundaram Mutual Fund has launched a new close ended income scheme named “Sundaram Fixed Term Plan GW” with maturity period of 1100 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 April 21 and will close on April 23.
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 Composite Bond Fund Index. Sandeep Agarwal will be the fund manager of the scheme.
The asset allocation of the scheme will be in such a way that the objective of the scheme to generate income will be met by investing in debt and money market securities, which mature on or before the maturity of the scheme. Hence, the scheme will allocate 80 to 100 per cent of asset in Short Term and medium term Debt Instruments and 0 to 20 per cent of asset in Money Market Instruments.
