18-Apr-2006 •Research Desk
Standard Chartered Mutual Fund has launched a unique equity fund which will invest in the stock IPOs. Named as Standard Chartered Enterprise Equity Fund, it will be initially available for subscription from April 18 to May 16, 2006.
The fund will be a three year close-ended fund which will primarily invest in the stock IPOs and in the interim, park the money in an index. With this objective, it will enable retail investors to participate in the stock IPOs through the Qualified Institutional Bidder (QIB) route.
Stock investors who prefer to invest in IPOs will find this offering interesting as it will eliminate the need for them to conduct research themselves to select the investment worthy IPOs. Moreover, it will also eliminate the burden of capital gains tax which they would have borne upon selling their shares within a year of allotment.