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Wednesday, September 23, 2009

Sundaram BNP Paribas Money Opportunities Fund files offer document with Sebi

An open-end income scheme

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

The objective of the scheme is to seek to generate consistent returns with liquidity that is in line with the profile of the portfolio by predominantly investing in fixed-income instruments, including money market securities and securitised debt.

The scheme offers Regular Plan and Institutional Plan. All plans will have a common portfolio. NAV and returns in each plan may vary based on the specified expense ratio.

Options: The scheme offers Dividend Option, Growth Option and Bonus Option. In the Dividend Option, investors can opt for one of Weekly- Reinvestment, Monthly-Payout or Re-investment..

The scheme would invest 65-100% of asset in fixed income instrument. The scheme may invest 0-35% in money market instruments. Exposure to securitised debt shall not exceed 50% of the net assets. Exposure to derivative instruments shall not exceed 50% of net assets.

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

Institutional Plan: For all first time purchases, the application must be for a minimum amount of Rs. 1 crore and multiples of Re. 1.

Exit load will be 0.15% for redemption within seven days from the date of allotment.

The minimum targeted amount is Rs.1 crore.

The schemes performance would be benchmarked against Crisil Liquid Fund Index.

K Ramkumar and Rahul Pal will be the portfolio managers for this scheme.

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