• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai, April 17 Sundaram BNP Paribas Mutual Fund has launched Sundaram BNP Paribas Financial Services Opportunities Fund — the fourth under their ‘Select Thematic Funds’ umbrella.

This is an open-end fund and is open for subscription from April 17 to May 14.

(The fund house is also going to launch another new scheme, the Entertainment Opportunities Thematic fund, which will open on April 24 and close on May 20, said Mr Sunil Subramaniam, Executive Director, Sales & Marketing, Sundaram BNP Paribas Mutual Fund).

The objective of the financial services fund is to seek long-term capital appreciation by investing predominantly (65-100 per cent) in equity and equity-related securities of Indian companies engaged in banking and financial services. The rest could be invested in equity instruments outside the theme, fixed income and money market instruments, and overseas securities, up to a maximum of 35 per cent of the net assets of the scheme.

The Banking, Financial Services and Insurance (BFSI) sectors are poised for a boom, said Mr Subramaniam. The existing players are expanding their operations, while newer ones, including multinationals, are entering the market. New listings in the stock market from insurance, asset management, stock/commodity exchanges and financial distribution companies seem imminent, he said.

The units are priced at Rs 10 plus applicable entry load per unit, and will be benchmarked against the CNX Banks Index. It has institutional and regular plans, with the growth and dividend options.

The Entertainment Opportunities fund will invest in stocks of media houses, broadcasters, multiplexes, content providers, mobile & Web-based services, convergence players, leisure and emerging entertainment business.

More Stories on : New Fund Offer | Financial Services | Mutual Funds

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
FIPB rejects KES India’s stock broking proposal

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line