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Sundaram Mutual to launch Star Fund

Sundaram Mutual Fund is planning to launch an equity-oriented scheme called Sundaram Star Fund. The AMC has filed an offer document for the same with SEBI and awaiting their approval.

The Scheme will invest in companies that are emerging as global sourcing bases for their parent either abroad or to any other global company or on their own foraying into global markets.

Under normal circumstances, the scheme will invest atleast 65 per cent of the total assets in equities and the fund also has the option of investing up to 50 per cent in derivative instruments. The exposure to money market instruments is capped at 15 per cent.