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Wednesday, September 23, 2009

Sundaram BNP Paribas Dividend Fund files offer document with Sebi

An open-end equity scheme

Sundaram BNP Paribas Mutual Fund has filed an offer document with Securities and Exchange Board of India (SEBI) to launch Sundaram BNP Paribas Dividend Fund, an open-ended equity schemes. The new fund offer (NFO) price for the scheme is Rs.10 per unit.

The objective of the scheme is to generate consistent returns by predominantly investing in the equity and equity related instruments and distribute dividend periodically, subject to availability of distributable surplus and applicable SEBI regulations/any other applicable law.

The scheme offers dividend payout option and dividend reinvestment option. The performance of the two options could differ based on market conditions.

The scheme would invest 65-100% of asset in equity & equity-related instruments. 0-35% in fixed income/money market instruments. Exposure to securitised debt shall not exceed 50% of the limit indicated for fixed income and money market instruments. Exposure to overseas securities shall not exceed 35% of assets.

For all first time purchases, the application must be for a minimum amount of Rs. 5,000 and multiples of Re. 1.

Exit load will be 1% if redeemed within 12 months from date of allotment.

The minimum targeted amount is Rs.1 crore.

The schemes performance would be benchmarked against S & P CNX Nifty Index..

J Venkatesan will be the portfolio manager for this scheme. S Bharath will be the dedicated fund manager for investments in overseas securities. Rahul Pal will be fund manager for deployment of funds in fixed-income and money market instruments.

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