Financial Daily from THE HINDU group of publications
Saturday, Sep 07, 2002

Port Info

Group Sites

Markets - Mutual Funds

Sundaram Mutual debt fund has low expense ratio

Our Bureau

CHENNAI, Sept. 6.

SUNDARAM Mutual has reduced the expense ratios on its Sundaram Select Debt Fund across different maturity plans.

The fund, which closed its initial public offering on August 30, garnered a corpus of Rs 53 crore across various plans. Sundaram Select Debt is an open-ended income scheme, offering continuous sale and repurchase of units.

After the reduction, the short-term plan will have an expense ratio of 0.65 per cent per annum against the earlier proposed one per cent; the three-year, five-year and long-term asset plans will have 0.65 per cent per annum against the earlier proposed 1.3 per cent; combined asset plan 1.25 per cent per annum against the earlier proposed 1.7 per cent per annum, according to a Sundaram Mutual press release.

The release quoted Mr T.P. Raman, Managing Director, Sundaram Mutual, as saying that the reduction would ensure that the investors' yields in these funds were bettered. Since Sundaram Select Debt was targeted at knowledgeable investors, mostly institutional and high net worth in nature, who could be accessed without resorting to heavy advertising or marketing, the expense ratios had been reduced.

Sundaram Select Debt was now amongst the lowest in terms of expense ratios across income funds, the release said.

Send this article to Friends by E-Mail

Stories in this Section
Sundaram Mutual debt fund has low expense ratio

Bear domination
SEs to set up panel for compliance of SEBI reports
BSE net up 90 pc
Markets turn jittery
Nalco slides on sell-off blues
United Phos perks up on monsoon revival
Insurance cos to get nod for investing in derivatives
Market tumbles on more negative triggers

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |

Copyright 2002, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line