| Sundaram Mutual Fund has launched a new fund named as Sundaram Fixed Term Plan – IP, a close ended income scheme with the duration of 180 days from the date of allotment of units. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 15 January 2019 and closes on 22 January 2019.
The objective of the Scheme would be to generate income by investing in debt and money market securities, which mature on or before the maturity of the scheme.
The scheme offers growth and dividend payout, dividend sweep options.
The scheme will allocate up to 100% of assets in money market instruments including bills rediscounting & cash equivalents and up to100% of assets in short term & medium term debt instruments with low to medium risk profile.
The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry load: Nil
Exit load: Not applicable.
The scheme's performance will be benchmarked against Crisil Short Term Bond Fund Index.
The scheme will be managed by Sandeep Agarwal.
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