Sundaram Mutual Fund garners Rs 358 crore via equity fund NFO

Sundaram Mutual Fund has collected Rs 358 crore from 30,932 investors through the launch of Sundaram Equity Fund, according to a press release from the fund house.

Subscription to the open-ended equity scheme was open from August 16-30.

The scheme will deploy at least 65 percent of its assets in equity and equity-related instruments across market capitalisation, while up to 35 percent will be deployed in fixed income and money market instruments.

The new scheme will invest in a portfolio of 45-50 stocks of companies, using a blend of top-down and bottom-up approaches.

Currently, Sundaram Mutual Fund has a bouquet of 14 equity and 11 fixed-income funds. As on August 31, 2019, the fund house’s assets under management stood at Rs 34,357 crore.

The performance of the scheme will be benchmarked against S&P BSE 500 TRI Index.

Other features:

Plans: Regular and Direct

Options: Growth and dividend

Minimum investment: Rs 100 and in multiples of one rupee thereafter

Exit load: 1 percent if redeemed within 12 months from the date of allotment;

--Nil if redeemed after 12 months from the allotment date.

Fund managers: S Krishnakumar, S Bharath (Equity), Dwijendra Srivastava (Fixed Income), Rohit Seksaria (Overseas)