Sundaram Mutual plans to raise up to Rs 400 crore via NFO

By: and |
Mumbai | Published: August 30, 2018 1:45:27 AM

Sundaram Mutual on Wednesday said it is looking to raise around Rs 300-400 crore through its new open-ended equity scheme named Sundaram Services Fund.

The new fund offer (NFO) opened for subscription on Wednesday and will close on September 12.

Sundaram Mutual on Wednesday said it is looking to raise around Rs 300-400 crore through its new open-ended equity scheme named Sundaram Services Fund.

The new fund offer (NFO) opened for subscription on Wednesday and will close on September 12. The scheme will reopen for ongoing subscription or redemption from September 26. The NFO aims to invest between 80% and 100% in equity and equity-related instruments.

The fund manager’s strategy will be to invest in a multi-cap portfolio of agressive small caps, mid-caps and defensive large caps in an existing listed universe of 193 stocks identified with market cap of Rs 40 lakh crore. Of 193 companies in large, mid and small cap portfolio, the fund will constitute of 40 stocks.

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