Business Daily from THE HINDU group of publications
Thursday, Jan 11, 2007
ePaper
Business Daily from THE HINDU group of publications Thursday, Jan 11, 2007 ePaper |
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Markets
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New Fund Offer Our Bureau
Mumbai , Jan. 10 Sundaram BNP Paribas Mutual has launched Sundaram BNP Paribas Equity Multiplier, a three year close-ended equity scheme, which will invest in up to 40 select stocks at any point of time. The new fund offer opens on January 10 and closes on January 31 or on collection of Rs 500 crore, whichever is earlier. The fund aims to achieve capital appreciation by investing in equity and equity related instruments across sectors and market caps. The scheme will collect a maximum corpus of Rs 500 crore with the right to retain 10 per cent excess subscription. The scheme will invest 65-100 per cent in equity and equity-related instruments and 0-35 per cent in debt instruments. Minimum initial application for the fund is Rs 5,000 and there is no entry load. The scheme will automatically get converted into an open-ended scheme on maturity. It offers two investment options - dividend and growth option. "For investors who have a longer investment horizon and can seek returns patiently, equity multiplier is a good investment option. It will seek to invest across sectors and market caps for optimum growth," Mr N. Prasad, Chief Investment Officer, Sundaram BNP Paribas Mutual, said.
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