Himadri Buch Moneycontrol News
Sundaram Mutual Fund has filed an offer document with the Securities and Exchange Board of India seeking approval to launch an equity-linked savings scheme (ELSS), Sundaram Long Term Advantage Fund-III and IV , according to information on the regulator’s website.
Under the close-ended equity scheme series, the lock-in period will be of three years.
The scheme will allocate at least 80 percent of its assets in equity and equity-related instruments and the balance 20 percent will be deployed in debt and money market instruments.
The scheme also has the provision to invest up to 10 percent of its corpus in units issued by REITs (Real Estate Investment Trust & InvITs (Infrastructure Investment Trusts).
Investments of up to Rs 1.5 lakh in ELSS Fund can earn a tax benefit under Section 80C of Income Tax Act.
Other Features:
Options: Growth and dividend;
Plans: Regular and direct;
Exit load: Nil;
Minimum application: Rs 500 and in multiples of Rs 500 thereafter;
Benchmark index: S&P BSE 500 Index;
Fund Managers: S Krishnakumar, CIO, Equity
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