Sundaram BNP Paribas has come out with its maiden open-ended Fund of Fund(FoF) scheme, which will look at investment avenues in emerging markets
Name of Fund: Sundaram BNP Paribas Global Advantage
Scheme: Open-end, A Fund of Fund Scheme
Objective: The scheme may invest a greater proportion of assets in emerging markets funds. The fund may pursue a diversified style in terms of country choice, fund selection, sector selection, stock selection, and buy/sell decisions.
Asset Allocation: The fund would invest 85 to 100% of its assets in mutual fund and exchange-traded funds listed on overseas stock exchange and up to 0 to15% in domestic money market instruments.
Fund Opens: July 16, 2007
Fund Closes: July 31, 2007
Face Value: Rs.10
Investment Options: Growth, Dividend with Reinvestment and Payout Facility
Entry Load: The fund would be charging an entry load of 2.75% on investment less than 2 Cr and there would be no charges for investment greater than 2 Cr
Exit Load: An exit load of 1.5% would be charged if investment is redeemed within 12 months of allotment
Minimum Investment Amount: Rs. 5,000
Benchmark Index: MSCI Emerging Markets Index
Fund Manager: N Prasad
Currently, there is just one fund with similar investment style - Principal Global Opportunities. It is the only fund of funds scheme which invests in funds abroad. It invests all its assets in PGIF Emerging Markets Equity Fund.
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