Sahara MF reopens banking & financial services fund

Sahara Mutual Fund announces the re-opening of ‘Sahara Banking & Financial Services Fund’ with effect from 19^th September 2008. As per the provisions of the scheme, units will be offered for purchase and redemptions at NAV (plus applicable load) on all business days on an ongoing basis. The NAV of the scheme as on 18^th September 2008 is Rs. 10.0460/- per unit and under the scheme one can opt for Dividend Option (including dividend re-investment option) or Growth Option. Minimum application amount is Rs. 5,000/-.

Announcing this Mr. Naresh Kumar Garg, Chief Executive Officer, Sahara Mutual Fund said “the Indian economy is robust and our banking system has shown remarkable resilience in the turbulent global economic environment. However, despite this the economy offers attractive investment opportunity to grow with the economic prosperity”.

‘Sahara Banking & Financial Services Fund’ is an Open - Ended - Sectoral Growth fund with the objective to generate long-term capital appreciation through investment in equity and equity related securities of companies which are in Banking and Financial Services segments. Sahara Banking and Financial Services Fund offer (N.F.O.) was open to subscription between 28th July 2008 and 26^th August 2008. At least 75% of the total assets will be invested in equity and equity related securities and upto a maximum 25% of the total assets will be invested in debt and money market instruments.

Sahara Asset Management Company is the investment manager to the Sahara Mutual Fund. Sahara Mid Cap Fund, Sahara Taxgain Fund & Sahara Infrastructure Fund are ranked among the Top 100 Best Performing Equity Funds in the world. Sahara Infrastructure Fund is among the Top 5 best performing infrastructure funds in the world. Sahara Tax Gain Fund has achieved the distinction of being ranked among the Top 10 Best Performing Equity Funds over 10 year performance for the period ended December 31^st, 2007*.

*These global rankings are by Lipper, a Reuter’s company. 

Sourced from: Sahara India Pariwar