Sundaram Mutual Fund Investment Company has launched a new open-ended debt scheme called Sundaram Money Market Fund. The NFO (New Fund Offer) has opened for subscription from September 12, 2018, and will close on September 26, 2018.
The investment objective of the Sundaram Money Market Fund is to produce income by investing in a portfolio of Money Market securities with maturity up to one year.
The Sundaram Money Market Fund will invest in Money Market securities having a maturity period of up to one year. The scheme will invest 100 percent of its assets in money market instruments as defined by RBI (Reserve Bank of India) or SEBI (Securities and Exchange Board of India) from time to time and cash with low to medium risk profile.
The NFO price for the open-ended debt scheme of the Sundaram Mutual Fund Investment Company is 10 Rupees per unit. The minimum application amount for the scheme is 1000 Rupees and in multiples of 1 Rupee thereafter. The entry load and exit load are not applicable to the scheme
The new open-ended debt scheme offers the options – Growth, Dividend Payout (Monthly and Quarterly), Dividend Sweep and Dividend Reinvestment (Daily, Weekly, Fortnightly, Monthly, and Quarterly).
The Sundaram Money Market Fund aims to collect a minimum subscription amount of 20 crore Rupees under the scheme during the NFO period.
The new scheme of the Sundaram Mutual Fund is benchmarked against the CRISIL Money Market Index. The fund managers of the Money Market Fund scheme are Mr. Siddharth Chaudhary and Mr. Sandeep Agarwal, according to KJMC.
The Money Market Fund of Sundaram Mutual Fund Investment Company will be open for subscription until September 26, 2018. Money market mutual fund (MMMF), short-run liquid investments having a high credit rating, intends to offer investors with a “low risk-low return haven” to invest in easily manageable cash and cash-like assets, according to Cleartax.[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 the website. ]