Financial Daily from THE HINDU group of publications
Thursday, Oct 16, 2003
Financial Daily from THE HINDU group of publications Thursday, Oct 16, 2003 |
|
|
|
|
|
Markets
-
Mutual Funds Sundaram Mutual seeks SEBI's nod for monthly income plan Our Bureau
Chennai , Oct. 15 SUNDARAM Mutual Fund has sought SEBI's approval to launch a Monthly Income Plan (MIP). The fund submitted a draft offer document to SEBI last week, and it expects to finish with the regulatory formalities by November. The MIP would provide itself room to invest up to 25 per cent of its corpus in equities, said Sundaram Mutual's Managing Director, Mr T.P Raman. Mr Raman said the sales team at the fund had been prepared to market the product. A long internal debate on the MIP preceded the current stage, he added. Sundaram's MIP plan follows the introduction of a pension product with assured returns by LIC. Mr Raman said that LIC's pension product had not forced any significant change in Sundaram Mutual's marketing plans for the MIP.
Article E-Mail :: Comment :: Syndication
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |
Copyright © 2003, 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
|