Financial Daily from THE HINDU group of publications
Wednesday, Nov 10, 2004
Financial Daily from THE HINDU group of publications Wednesday, Nov 10, 2004 |
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Markets
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Mutual Funds Sahara MF launches 2 new schemes Our Bureau
Kolkata , Nov. 9 SAHARA Mutual Fund has announced the launch of two new schemes — an equity fund with focus on mid-cap stocks and a floating rate income fund. The offers, according to Mr R. Balakrishnan, CEO, will help the MF extend its basket of products and provide two critical options to investors. These will be followed up by other funds in future. "We hope to target retail investors in large numbers," he told newspersons here. The mid-cap fund will seek to cover a wide range of sectors, keeping in view the requirements of a growth-oriented investment strategy, said Mr N.K. Garg, CIO, adding that the CNX Mid-Cap 200 has been selected as the fund's benchmark index. Sahara MF currently manages six funds, two of which are on the equity side. According to Mr Arindam Ghosh, Chief Marketing Officer, the MF is now pursuing a major expansion programme, marked by the repositioning of the existing schemes and the opening of offices at new locations. The MF hopes to tap a greater number of distribution channels to further its plans, he added.
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