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Business EconomyPosted at: Nov 15 2018 6:59PM


Sundaram Mutual launches Equity Savings Fund in Mumbai

Mumbai, Nov 15 (UNI) Sundaram Mutual, one of India’s leading retail- focused mutual funds, on Thursday launched a new investment scheme, called 'Sundaram Equity Savings Fund'.
Commenting after the launch here, Sunil Subramaniam, managing director, Sundaram Mutual, said that the Sundaram Equity Savings Fund is an open-ended scheme that aims to invest in equity, arbitrage and debt.
The scheme will open for subscription tomorrow and close on November 30, he said.
The scheme will re-open for ongoing subscription or redemption on December 14, he informed.
"This is an offering which moderates the riskiness of pure equity with the safety of arbitrage and fixed income, thus offering a wholesome blend of risk and reward while maintaining equity taxation," Mr Subramaniam said.
Sundaram Equity Savings Fund would follow a three-pronged investment strategy -- by choosing to invest in equity for capital appreciation, taking hedging or arbitrage investment calls, primarily cash futures arbitrage on individual stocks, to enhance income and also by investing in high credit quality fixed income instruments for consistent income generation, he informed.
The performance of the scheme will be benchmarked against Nifty Equity Savings Index, he added.
UNI RT SS PS 1858
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