Financial Daily from THE HINDU group of publications
Tuesday, Jul 05, 2005
Financial Daily from THE HINDU group of publications Tuesday, Jul 05, 2005 |
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Markets
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Mutual Funds Sahara launches Wealth Plus Fund Our Bureau
Mumbai , July 4 SAHARA Mutual Fund launched the Sahara Wealth Plus Fund today. The new fund offer remains open till July 22. The fund is based on a variable fee structure, according to a company press release. The fund is an open-ended growth scheme with the primary objective to invest in equity and equity-related instruments of companies that would be wealth builders in the long term, the release said. "This is a unique initiative by Sahara Mutual Fund and perhaps the first time in India that a variable fee structure is introduced to a mutual fund product, wherein customers are charged a fee based on the performance of the fund," Mr Rajiv Shastri, CEO, Sahara Mutual Fund, was quoted in the release. Through the variable fee structure the AMC will charge a fee to investors only when the Wealth Plus Fund performs. No fee would be charged by the AMC if the fund does not perform, the release said.
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