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Tuesday, June 09, 2009

Sundaram BNP Paribas MF plans to launch thematic fund

Plans to launch Sundaram BNP Paribas Select Thematic Funds P.I.E

Sundaram BNP Paribas Mutual Fund has filed offer document with Securities and Exchange Board of India (SEBI) to launch Sundaram BNP Paribas Select Thematic Funds P.I.E (Power-Infrastructure-Energy). It is an open-end equity scheme. The face value of the new issue will be Rs 10 per unit plus applicable entry load.

Features of scheme:

Investment Objective: Sundaram BNP Paribas Select Thematic Funds P.I.E seeks Seek capital appreciation by investing in equity and equity-related securities of companies listed in India engaged in the power, infrastructure and energy, including natural resources, to the extent of at least 65%.

Investment Plans: The scheme offers are two plans viz. regular and institutional in each scheme with growth and dividend option. Dividend option will have dividend payout and dividend reinvestment facility.

Minimum application amount: The minimum application amount under regular plan is Rs 5000 and for the institutional plan, the minimum application amount is Rs 1 crore and in multiples of Re 1 thereafter.

Minimum Target amount: The scheme seeks to collect a minimum corpus of Rs 1 crore under each scheme.

Asset allocation:

The scheme will invest 65-100% in equity & equity-related instruments in the targeted theme with high risk profile. It will have investment up to 35% in equity & equity-related instruments other than the targeted theme with high risk profile. Exposure to fixed income & money market instruments shall be up to 35% with low to medium risk profile.

Exposure to securitised debt shall not exceed 50% of the limit indicated for fixed income and money market instruments. Investment in equity & equity-related instruments other than the targeted sector/theme will be in Indian securities and large-cap stocks from S & P CNX Nifty.

Load structure:

Entry load: Regular Plan under all three schemes will levy an entry load of 2.25% for investment amount of less than Rs 1 crore while no entry load foe investment amount of amount greater than or equal to Rs 1 crore.

Institutional plan shall not charge entry load.

Exit load: For investment amount less than Rs 1 crore, regular plan will charge an exit load of 1% for redemption done before 6 months for any investment amount. For investment amount less than Rs 1 crore, the exit load will be 1% if redemption is done after 6 months and before 12 months. While for investment amount greater than Rs 1 crore, no exit load will be charged if redemption after 6 months and before 12 months. The regular plan will not charge exit load for redemption after 12 months.

Institutional plan may not charge an exit load.

Benchmark Index: The performance of the scheme will be benchmarked against S & P CNX 500.

Fund Manager: S Krishnakumar will manage the investments under the scheme.

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