Mumbai, Dec 1: Sun F& C Mutual Fund is launching its first balanced fund. The scheme will open for subscription on December 9 and close on 23. The scheme will not charge any load for the initial investor. Sun F & C balanced fund will be the second no-load fund to be launched in the recent past. Prudential ICICI, Kothari Pioneer and Kotak Mahindra managed to charge some amount of load to the initial investors. In a no-load fund, an initial investor starts with Rs 10 as against a load fund where the face value of the unit is subjected to some charge. The ongoing fees and expenses of operating the scheme on an annual basis are estimated to be 2.5 per cent p.a of average weekly net assets. Minimum investment for subscription is Rs 5,000 and in multiples of Rs 1000 thereafter.
As far as investment pattern goes, up to 60 per cent of investible funds will be invested in equities and the balance in debt instruments. The initial targeted amount is Rs 1 lakh. The scheme has a dividend plan and growth plan. The unitholders can reinvest the dividends through a reinvest facility. Growth plan is for those investors who seek capital appreciation.
The Sun F & C mutual fund has two schemes namely Sun F&C value Fund and Sun F&C Money Value Fund.
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