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Friday, December 19, 2014

Sundaram Long Term Tax Advantage Fund - Series I Floats On

NFO period is from 18 December 2014 to 20 March 2015

Sundaram Mutual Fund has launched a new fund named as Sundaram Long Term Tax Advantage Fund -Series I, a 10 year close ended equity linked savings scheme. The duration of the scheme is 10 years from the date of allotment of units. 

The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 18 December 2014 and closes on 20 March 2015.

The investment objective of the Scheme is to generate capital appreciation over a period of ten years by investing predominantly in equity and equity-related instruments of companies along with income tax benefit. 

The scheme offers growth and dividend payout (quarterly & half yearly) options. 

The scheme will allocate 80%-100% of assets in equity & equity related securities with high risk profile and invest upto 20% of assets in fixed income and money market securities with low to medium risk profile. 

The minimum application amount is Rs 500 and in multiples of Rs 500 thereafter. 

The fund seeks to collect a minimum subscription amount of Rs 10 crore under the scheme during the NFO period. 

The scheme is proposed to be listed on NSE. 

Entry load: Nil 

Exit load: Not applicable. 

The scheme's performance will be benchmarked against S&P BSE 500 Index. 

The scheme will be managed by S. Krishnakumar & Dwjendra Srivastava. 
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