Sundaram Mutual Fund has launched a new fund named as Sundaram Fixed Term Plan - IH, a close ended income scheme with the duration of 138 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 08 May and closes on 09 May 2018.

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 (quarterly & half yearly) options.

The scheme will allocate upto 100% of assets in money market instruments including bills rediscounting & cash equivalents and 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 amount of Rs 20 crore under the scheme during the NFO period.

The scheme is proposed to be listed on NSE.

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.