Sundaram Mutual Fund, a Rs 708 crore fund house has launched three new schemes- Sundaram Select Focus Fund—an equity fund focussing on select number of 15 stocks, Sundaram Select Midcap Fund—investing in midcap stocks and Sundaram Income Plus- a debt fund investing in below AAA rated instruments. The three funds will be open for initial subscription from June 24, 2002 to July 19,2002. And will reopen of regular sale and purchase from July 31, 2002.
Investment in three funds calls for minimum subscription of Rs 5000 each and no-entry/exit load will be applicable during the initial offer period. However on ongoing-basis, Sundaram Select Focus and Midcap Fund will charge an entry load of 2% while investments in Sundaram Income Plus, if redeemed within 6 months will be subject to an exit load of 1.5%.