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Tuesday, September 08, 2009

Sundaram BNP Paribas Select Thematic Funds PSU Opportunities files offer document with Sebi

An open-ended 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 Select Thematic Funds PSU Opportunities, an open-ended equity scheme. The new fund offer (NFO) price for the scheme is Rs 10 per unit.

The investment objective of the scheme is to seek capital appreciation by investing in equity and equity-related securities of public sector companies to the extent of at least 65%. The fund may also invest in bonds and other fixed-income instruments issued by public sector entities. Under normal circumstances, cash may be deployed in fixed income and money market instruments. Exposure to overseas securities shall not exceed 35% of assets and shall be only related to the theme.

The Scheme offers two plans – regular and institutional plan. Under each plan dividend and growth options are available. Dividend option offers dividend payout and dividend re-investment facilities.

The scheme will invest 65-100% in equity & equity-related instruments in the targeted theme with high risk profile. The scheme will invest 0-35% in equity & equity-related instruments other than the targeted theme with high risk profile. It will invest 0-35% in fixed income/money market instruments with low to medium risk profile. 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.

The scheme will not charge any entry load. The scheme will charge an exit load of 1%, if redeemed within 12 months from the date of allotment for regular plan & institutional plan.

The minimum application for Regular Plan is Rs 5,000/- and in multiples of Re 1/- thereafter per application For Institutional Plan it is Rs 5,000 and in multiple of Re 1/- thereafter per application. For all subsequent purchases, the application must be for a minimum amount of Rs. 500/– and multiples of Re. 1/-.

The fund seeks to collect a minimum subscription amount of Rs. one crore under the scheme during the NFO period.

The schemes performance would be benchmarked against CNX PSU Index.

The fund managers of the scheme will be Satish Ramanathan, K. Ramkumar, Srividhya Rajesh, S.Krishnakumar, J.Venkatesan, Rahul Pal and S. Bharath.

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