Sundaram Mutual Fund has launched a new fund named as Sundaram Ultra Short Term Fund, An open ended ultra-short term debt scheme investing in instruments with Macaulay Duration of the portfolio between 3 months to 6 months. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 14 June 2019 to 20 June 2019.
The investment objective of the scheme is to generate regular income by investing predominantly in debt and money market instruments.
The scheme offers options: growth, dividend. Dividend frequency: daily, weekly, fortnightly, monthly and quarterly, Dividend under option: dividend payout: monthly & quarterly, dividend sweep: monthly & quarterly, dividend reinvestment: daily, weekly, fortnightly, monthly & quarterly.
The scheme would allocate 100% of assets in debt instruments, money market instruments & cash and cash equivalents with low to medium risk profile.
The minimum application amount is Rs 1000 and in multiples of Re 1/- thereafter.
The minimum additional amount is Rs 1000 and in multiples of Rs 1/- 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: Not applicable.
Exit load: Not applicable
Benchmark Index for the scheme is CRISIL Ultra Short Term Debt Fund.
The fund managers of the scheme are Siddharth Chaudhary and Sandeep Agarwal.