The new fund offer is open for subscription till May 23.
Sundaram Mutual Fund today announced the launch of its three year closed-end fund called Sundaram Top 100 Fund- Series I.
The fund also qualifies as a RGESS. The fund aims to invest predominantly, between 95-100 percent in RGESS eligible stocks. Within the universe of 99 stocks, the fund will construct a portfolio of 40-45 stocks.
Benchmarked against CNX 100, the fund will invest in companies which are cyclical in nature and also in companies which derive a significant portion of their revenues from exports.
The fund opened for subscription on May 05 and closes on May 23. The fund will be managed by J.Venkatesan.
Commenting on the launch of Sundaram TOP 100, Harsha Viji, Managing Director, Sundaram Mutual said, “Sundaram Mutual is known for unearthing investment opportunities with its research based approach. Sundaram TOP 100, intended as a wealth building tool for investors, endeavors to unearth the deep value hidden in several Indian companies.”
The fund house has received approval to launch five series of Top 100 Fund. The next series (II-IV) will be launched soon. Sunil Subramaniam, Deputy CEO, Sundaram Mutual Fund said that each of these series will have different investment strategies.
Sundaram had recently launched four series of its five year closed-end fund called Sundaram Select Micro Cap Fund.
Sundaram AMC manages assets of Rs. 16,760 crore as on April 2014.
