Financial Daily from THE HINDU group of publications
Tuesday, Mar 21, 2006
Financial Daily from THE HINDU group of publications Tuesday, Mar 21, 2006 |
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Markets
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New Fund Offer Sundaram MF launches Rural India Fund Our Bureau
Chennai , March 20 Sundaram Mutual's new fund - Sundaram Rural India Fund - with focus on rural India was launched today. Mr T.P. Raman, Managing Director, Sundaram Mutual, said the Government's Bharat Nirman Yojna for comprehensive rural upliftment and increasing corporate participation in rural areas are providing the thrust for growth in rural India. The Sundaram Rural India Fund is an open-ended equity fund. The new fund offer (NFO) opens on March 20 and closes on April 19. The issue of unit is at Rs 10 each for cash and there is no entry load during NFO. The fund would look at investing in companies with rural focus across sectors and market capitalisation. The new fund will invest 70 to 100 per cent of its assets in companies focusing in rural India, while up to 30 per cent of the assets can be invested in the stocks of other companies. The fund will also invest up to 15 per cent of its assets in money market and related instruments.
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