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Sundaram Long Term Tax Advantage Equity Mutual Funds NFO Opens

Sundaram Long Term Tax Advantage Equity Mutual Funds NFO has opened for subscription from September 25, 2018, and will close on December 24, 2018. The new fund is called Sundaram Long Term Tax Advantage Fund – Series VI with NFO price of 10 Rupees per unit.

The close-ended ELSS (equity linked saving scheme) fund of Sundaram Mutual Fund has a statutory lock in period of 3 years, tax benefit, and maturity period of 10 years from the date of allocation. The scheme offers Regular and Direct Plans with Growth, Dividend Payout and Dividend Sweep options.

The investment aim of the Sundaram Long Term Tax Advantage Fund is to produce capital appreciation over a period of ten years through investments mainly in equity and equity-related securities of firms together with income tax benefit.

The close-ended equity scheme aims to collect a minimum subscription amount of 10 crore Rupees during the Sundaram Long Term Tax Advantage Equity Mutual Funds NFO period.

Sundaram Long Term Tax Advantage Fund – Series VI scheme will invest 80 percent to 100 percent of its assets in equity and equity-related instruments with a high risk profile. The new fund will further invest up to 20 percent of assets in fixed income and money market instruments with low to medium risk profile.

The minimum application amount allowed for the scheme is 500 Rupees and in multiples of 500 Rupees thereafter. The performance of the Sundaram Long Term Tax Advantage Fund – Series VI scheme is benchmarked against S&P BSE 500 Index.

The fund house has appointed S Krishnakumar and Dwijendra Srivastava as the fund managers of the Long Term Tax Advantage Fund.

Sundaram MF house has announced the Sundaram Long Term Tax Advantage Equity Mutual Funds NFO news on September 25, 2015, according to KJMC. This scheme is suitable for investors seeking for capital appreciation over a period of 10 years, and for investors who are seeking to make the investment in equity and equity-related securities along with income tax benefit, based on information in the official website of SEBI.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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Bindhu Mol. G loves writing news articles. She excels in SEO articles, technical articles and academic articles. She covers commodities and mutual fund news for OWLT Market.

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