Sundaram MF raises Rs 358 crore through new fund offer

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Published: September 12, 2019 2:05:47 AM

Sundaram Mutual Fund has raised Rs 358 crore through its recent new fund offer (NFO), Sundaram Equity Fund.

The fund will re-open for fresh subscriptions on September 16The fund will re-open for fresh subscriptions on September 16

Sundaram Mutual Fund has raised Rs 358 crore through its recent new fund offer (NFO), Sundaram Equity Fund.

The fund, an open-ended equity scheme in the multi-cap category, will deploy its corpus across large, mid and small capitalisation stocks. The fund will re-open for fresh subscriptions on September 16.

Sunil Subramaniam, MD, Sundaram MF, said: “I wish to thank the more than 30,000 investors for reposing their faith in our fund house with a substantial corpus even in such volatile times for the economy and the markets.”

He also said that more than 3,600 distribution and advisory partners have leveraged the product’s visibility to mobilise investments across 488 unique cities and towns from the remotest parts of the country. The fund will be managed by S Krishnakumar, chief investment officer- Equity, as well as equity fund manager, S Bharath. The performance of the scheme will be benchmarked against S&P BSE 500 TRI Index. According to data from Value Research, in the last one year multi-cap category have given returns of -7.13% and around 8% in the last five year.

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