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Mutual Fund News

Sundaram Mutual Fund has launched a new fund named as Sundaram Select Micro Cap - Series XVI, a closed-end equity scheme. The tenure of the scheme is 5 years from the date of allotment of units. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 09 August and closes on 23 August 2017.

The objective of the Scheme would be to generate capital appreciation by investing predominantly in equity/ equity-related instruments of companies that can be termed as micro-caps.

The scheme offers dividend payout and growth option.

The scheme will invest 80%-100% in equity & equity related securities of companies of micro-caps, invest upto 20% of assets in other equity (including investment in derivatives of large caps) with high risk profile and invest upto 20% of assets in fixed income & money market securities with low to medium risk profile.

The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.

The fund seeks to collect a minimum subscription amount of Rs 20 crore under the scheme during the NFO period.

Entry load: Nil

Exit load: Not applicable.

The schemes performance will be benchmarked against S&P BSE Small Cap Index.

The fund managers of the scheme are S Krishnakumar & Dwijendra Srivastava.

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* Equity - Returns upto 1 year are absolute and over 1 year are CAGR.
* Debt - Returns upto 1 year are annualised and over 1 year are CAGR.

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