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Friday, December 19, 2014

Sundaram Top 100 – Series IV Floats On

NFO period is from 18 December 2014 to 16 January 2015

Sundaram Mutual Fund has unveiled a new fund named as Sundaram Top 100 – Series IV, a close ended equity scheme which shall invest in eligible securities as per Rajiv Gandhi Equity Savings Scheme, 2012. The tenure of the scheme is 3 years from the date of allotment. 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 close on 16 January 2015. 

The investment objective of the scheme is to generate capital appreciation from a portfolio that is substantially constituted of equity securities specified as eligible securities for Rajiv Gandhi Equity Savings Scheme, 2012. The scheme may also invest a certain portion of its corpus in cash & cash equivalent and money market instruments from time to time.
The scheme offers regular and direct plan. Both the plans will have growth and dividend payout option. 

The scheme will invest 95%-100% of assets in equity securities specified as eligible securities for RGESS with medium to high risk profile and invest upto 5% of assets in cash & cash equivalents and money market securities with low to medium risk profile. Investments made in money market instruments shall have residual maturity of upto 91 days. 

The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter. 

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

Entry load: Nil. 

Exit load: Not applicable. 

Benchmark Index for the scheme is CNX 100. 

The scheme will be managed by J. Venkatesan. 
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