Sundaram Mutual launches two tax savings funds NFOs

Sundaram Mutual, has launched two 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, 2014 whereas Sundaram Top 100 (Series IV), a closed-end NFO will open on December 18, 2014 and close on January 16, 2014.

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.”

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.”