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Our Bureau

Mumbai, Feb. 22 Sundaram BNP Paribas Mutual Fund plans to introduce two new funds — an Entertainment Opportunities Fund and Financial Services Opportunities Fund within the next two months.

“Entertainment and the banking and financial sector are both set to do well because of the benign interest rate scenario,” said Mr Sunil Subramaniam, Executive Director, Sales and Marketing, Sundaram BNP Paribas Mutual Fund.

While the Entertainment Opportunities Fund has got the Securities Exchange Board of India approval, the mutual fund house awaits regulatory approval for its Financial Services Opportunities Fund.

“The entertainment opportunities fund will seek to invest in companies which derive benefit directly or indirectly from the entertainment sector,” said Mr Subramaniam.

The fund house also told Business Line that it plans to double the number of branches to more than 100 across the country.

Sundaram BNP is a joint venture between Sundaram Finance and France’s BNP Paribas Asset Management.

The fund house manages assets to the tune of Rs 13,291.82 crore as on January 31, 2008.

The funds’ equity portfolio constitutes 70 per cent of the total assets under management, while 30 per cent is the debt constitution.

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Sundaram BNP Paribas MF plans two new funds

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