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Wednesday, May 28, 2014

Sundaram Developed Markets Fund files offer document with Sebi

An open-end fund-of-funds scheme 

Sundaram Mutual Fund has filed offer document with Sebi to launch Sundaram Developed Markets Fund, an open-end fund-of-funds scheme. The New Fund Offer price is Rs 10 per unit. 

Investment objective: To achieve long term growth by investing in index funds and exchange traded funds which invest in equity & equity related securities from U.S., Europe U.K. & Japan. Income generation may only be a secondary objective. 

Options/plans: Growth and dividend (payout & reinvestment) options under both regular plan and direct plan. 

Benchmark: MSCI World Index 

Entry load: Nil 

Exit load: An exit load of 1% shall apply for redemption within 12 months from the date of allotment. 

Minimum Application Amount: Rs.5,000 and in multiples of Re 1 thereafter. 

Minimum Target Amount: Rs 10 crore 

Asset Allocation: The scheme shall invest 20-60% in units of index funds & exchange traded funds which invest mainly in equity and equity related securities from U.S. The scheme shall also invest 20-60% in units of index funds & exchange traded funds which invest mainly in equity and equity related securities from Europe & U.K. The scheme shall also invest 20-60% in units of index funds & exchange traded funds which invest mainly in equity and equity related securities from Japan and up to 10% in debt and money market securities issued in India; or in units of debt and/or liquid mutual fund schemes. 

The remittance of investment to the underlying scheme will be in foreign currency. 

Fund Manager: S Bharath
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