Sundaram BNP Paribas open Entertainment Opportunities Fund

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Sundaram BNP Paribas Mutual launches Sundaram BNP Paribas Entertainment Opportunities under the Select Thematic Funds umbrella. This open-end fund will open for subscriptions on April 24, 2008 and will close on May 20, 2008.

 

The fund seeks to create wealth by focusing on the Young India theme. 70% of India's population is below 35. With rising urbanization and increase in earnings this group provides the impetus for Entertainment industry.

 

Mr. N. Prasad, Deputy CEO and Chief Investment Officer, Sundaram BNP Paribas Mutual said, "Robust growth in the economy, expected boom in savings clubbed with growing channel revenues, increasing brand advertisements and rapidly expanding: broadcasters, content providers, films, multiplexes, print media, malls, edutainment, web-based services, telecom and niche IT players makes the entertainment space very promising investment opportunity.

 

Mr. T. P. Raman, Managing Director, Sundaram BNP Paribas Mutual said, "This fund is a window for investors to participate in a theme that has vast potential due to dramatic growth of industries such as communication, entertainment, films, leisure, up-scale shopping and luxury. This thematic fund is an integral part of our endeavour to offer well-defined products to investors'.

 

The investment objective of this thematic fund would be to achieve long term capital appreciation by investing primarily in the equity and equity related instruments of companies that focus on opportunities in the entertainment business. The issue of units is at Rs.10/- each for cash plus applicable entry load. This thematic scheme will be benchmarked against S&P CNX Media and Entertainment Index.  The fund offers Institutional Plan and Regular Plan with Dividend Payout, Dividend Re-investment and Growth Options.

 

Mr. Satish Ramanathan will be the Fund Manager and Mr.Vijayendiran will be the fund manager for investments in overseas securities.

 

Sourced from: Sundaram BNP Paribas Mutual