Sundaram Mutual Fund said that its latest new fund offer of the Multi-Asset Allocation Fund has garnered ₹1,890 crore, with participation from over 83,000 investors.
“This milestone marks a significant achievement for the brand, making this its 2nd largest NFO,” the company said in a statement. The NFO was open from January 5 to January 19.
It reopens for subscription on February 1.
Sunil Subramaniam, MD, Sundaram Mutual, said: “The fund’s introduction in the market has been met with widespread enthusiasm, attracting a diverse group of investors seeking a comprehensive and dynamic investment strategy to navigate today’s financial landscape. In this offering, we strategically blend equity, fixed income, and gold ETFs - where equity sparks capital appreciation, fixed income adds consistency, and gold acts as a resilient Shock Absorber during adverse events.”
The fund will be managed by S. Bharath - Senior Fund Manager (Equity) & Head – Research, Rohit Seksaria – Fund Manager (Equity), Dwijendra Srivastava - CIO (Fixed Income) and Sandeep Agarwal - Head (Fixed Income) and Retail Business, and Arjun Nagarajan - Commodities Fund Manager, Chief Economist & Communications Manager – Investments.
NIFTY 500 TRI (65 per cent) + NIFTY Short Duration Debt Index (10 per cent) + Domestic Prices of Gold (25 per cent) will be the benchmarks for the fund.