The Hindu Business Line : Sundaram Mutual launches Capex Opportunities Fund

Sundaram Mutual has launched Sundaram Capex Opportunities Fund. The offer will be between August 10 and September 5. This open-end fund will invest in companies that have a presence in the capital goods sector.

The universe will encompass companies that supply equipment, materials and services to implement capital expansion activity. The benchmark will be the BSE Capital Goods Index. The minimum investment amount is Rs 5,000.

If investments made during the New Fund Offering period were pulled within six months from the allotment date, there will be an exit load of 3 per cent. There is no entry load for funds that are invested in this period.

Birla Mutual has announced a dividend of 75 per cent for Birla MNC Fund. The record date for the dividend is August 26. The fund paid a 50-per cent dividend in January.

Kotak Mutual has declared a dividend of 5 per cent for Kotak Midcap Fund. The record date for the dividend is August 24. This is the first dividend payment by the fund house for Kotak Midcap, which was launched in December 2004.

Taurus Mutual plans to launch Taurus Liquid Fund. This fund will offer two plans - Institutional and Regular. The fund will invest in money market instruments and debt. The fund has filed with SEBI for approval.

UTI Mutual plans to launch an offshore debt fund in alliance with Deepfa Bank of Germany. The fund names as UTI India Debt Fund aims to have a corpus of $ 500 million over a twelve-month period. There are also plans to launch to two new funds as part of a tie-up with State Street Bank of US. The two funds will invest in securities in overseas market. These funds will be launched once regulatory clearances are secured.

The new fund offering period for Prudential ICICI Infrastructure Fund closes on August 16.

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