Sundaram Mutual Fund has launched a debt oriented fund. Named as Sundaram Value Plus, it will offer three plans- one-year, two-year and a three-year plan. The one-year plan will have a maturity profile of 380 days, while the two- and three-year plans will mature in 745 and 1110 days respectively. The fund house proposes to launch a rolling series of plans with similar maturity profiles every quarter. Each plan will be identified by a distinct series number and will have a portfolio of securities maturing normally in line with the time profile of the plan.
The fund would seek to generate income with an emphasis on capital preservation by investing in the fixed income securities having a maturity period in line with that of the respective plans of the fund. The fund may also invest part of its assets in equities. The one-year plan can invest up to 10 per cent of its assets in equities, while the two- and three-year plans can allocate up to 20 and 30 per cent of their assets respectively to equities.
The fund will be initially available for subscription from October 14 to November 14, 2005. On an ongoing basis, the fund will be available for subscription during specified periods, normally after every three months. Redemptions can also be made only on specified dates.
The fund will charge entry and exit loads under the three plans as per the following table:
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