Sundaram Mutual Launches Tax Savings NFOs..!
Chennai based Sundaram Mutual, one
of India’s leading retail-focused mutual funds, has launched tax savings New
Fund Offerings (NFOs) namely; Sundaram Long Term Tax Advantage Fund (Series I)
and Sundaram Top 100 (Series IV).
Sundaram Long Term Tax Advantage, which aims
to invest 80 percent to 100 percent of this scheme’s Assets Under Management
(AUMs) in equity and equity related, will
have a Multi-Cap diversified 40-45 stock portfolio.
Whereas, Sundaram Top 100, which aims
to invest 95 percent to 100 percent of this scheme’s Assets Under Management
(AUMs) in equity securities specified as eligible
securities for RGESS, will have a Large-Cap and Mid-Cap diversified 40-45 stock portfolio.
Sundaram Long Term Tax Advantage Fund
(Series I), a NFO with three year lock-in period, will open on December 18,
2014 and close on March 20, 2015 whereas Sundaram Top 100 (Series IV), a
closed-end NFO will open on December 18, 2014 and close on January 16, 2015.
 |
| Harsha Viji, Managing Director, Sundaram Mutual |
Mr. Harsha Viji, Managing Director,
Sundaram Mutual, said, “We believe there are
opportunities to invest in all market conditions and Sundaram Mutual is known
for unearthing these opportunities. With our research based approach we are
ideally positioned to unearth stocks for our investors that will strongly
benefit from the positive momentum in the equity markets. And also, given the
financial year ending Sundaram Long Term Tax Advantage and Sundaram Top 100,
intended as a wealth building tools for investors, will also cater to the tax
savings needs of investors.”
 |
| Sunil Subramaniam, Deputy CEO, Sundaram Mutual |
Mr.Sunil Subramaniam, Deputy CEO, Sundaram Mutual, said, “Government has unfurled vast potential
advantages to Indian manufacturing and export sectors that will steadfastly
create job opportunities, establish India as an export hub, enhance the GDP
growth and help in narrowing the fiscal deficit. With these benefits arising
out of the economic initiatives coupled with positive momentum in the equity markets Sundaram Long Term Tax Advantage and Sundaram Top 100 are set to offer
immense investment opportunity with added tax savings advantage to the
investors.”
Sundaram Mutual has
entrusted the fund management of these funds; Sundaram Long Term Tax Advantage
Fund (Series I) to Mr.S.Krishna Kumar with this schemes performance
benchmarkedagainst S&P BSE 500 Index and Sundaram Top 100 (Series IV)
to Mr.J.Venkatesan with this schemes performance benchmarked against CNX 100
Index.
These NFOs being launched by Sundaram Mutual proposes to adopt
an investor-friendly dividend policy (surpluses permitting) to ensure that
liquidity is not restricted for a three year horizon.
Fund Synopsis..!
|
Scheme Names
|
Sundaram Long Term Tax Advantage Fund – Series I
|
Sundaram Top 100 – Series IV & V
|
|
Scheme Type
|
Ten Year Closed
End ELSS
|
Three year closed
end equity scheme
|
|
Benchmark
|
CNX 100 Index
|
S&P BSE 500
Index
|
|
Fund Manager
|
Mr.S Krishnakumar
(Equity) & Dwijendra Srivastava (Debt).
|
Mr. J Venkatesan
|
|
Asset
Allocation
|
- Equity
securities specified as eligible
securities for RGESS: 95-100%
-
Cash & Cash Equivalents and Money
Market Instruments: 0-5%
|
-
Equity & Equity related securities: 80-
100%
-
Fixed Income & Money Market
Instruments: 0-20%
|
|
Portfolio Construction
|
- Large & mid
cap
- Diversified
40-45 stock portfolio in
manufacturing & exports segments
|
- Multicap
- Diversified
40-45 stock portfolio in
manufacturing & exports segments
|
Minimum
Investment Amount : For both
Regular Plan and Direct Plan Rs. 5,000
Load Structure : Entry Load : Nil & Exit
Load: Not Applicable
About Sundaram Mutual Fund:
Sundaram Mutual Fund, a major player in the fund management with retail focus, has an accomplished and acclaimed track record since it commenced business in 1996 with average assets under management and advice of about Rs.21,165 crores (USD 3.42 billion) as on November 30, 2014.
Sundaram Mutual Fund has a bouquet of equity and fixed-income funds catering to diverse investor preferences.
Sundaram Mutual Fund has 80 branches across India covering all leading centers.
For more information on Sundaram Mutual Fund and its products and the changed scheme names, please visit www.sundarammutual.com
For Media Enquiries:
Harit S. Tank
Tel.Nos.: 022 –
26819101 Dir.: 022 – 2681 9115
Ajit Narasimhan
Tele.Nos.: 044 –
2856 9900 / Dir.: 044 – 2856 9809
Email: ajit@sundarammutual.com
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