The fund is yet another pioneering investment opportunity from Sundaram Mutual that seeks to provide investors an early bird advantage in what is likely to be a sustained long-term growth area, the transition of rural India. Governments rural development focus combined with corporate Indias increasing rural involvement has fuelled rural India to become Indias growth propeller, said a press release.
According to T P Raman, managing director, Sundaram Mutual, "The expanse of rural India offers the most promising investment opportunities. The governments Bharat Nirman Yojna for comprehensive rural upliftment and increasing corporate participation in rural areas are providing the much-needed impetus for the growth of rural India. Sundaram Rural India Fund is our initiative for the investors to participate in the big growth opportunity."
The Fund is an open-ended equity fund. New Fund Offer (NFO) opened on March 20, 2006 and closes on April 19, 2006. The issue of units is at Rs 10 each for cash and there is no entry load during NFO. The Fund would look into investing in companies with rural focus across sectors and market caps, he added.