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Sundaram Mutual Fund has launched an open-ended equity scheme – Sundaram Equity Plus. The new fund, which opened on May 4, will close on on May 16, said a news release from the company.
The minimum investment amount is Rs 5,000 and multiples of Re 1, thereafter. The objective of the scheme is to seek capital appreciation by investing in equity and equity-related instruments listed in India to the extent of at least 65 per cent and in gold-ETF up to 35 per cent.
“With the increase in gold prices over the last two decades, and the stability in its demand, gold seems a more viable commodity to invest in. Further, it makes sense in this scheme, as the standard deviation in the large cap is higher for this scheme and so are the average rolling returns,” said Mr Sunil Subramaniam, Sundaram Mutual Fund.
The short-term capital gain for the scheme is 15 per cent whereas the long-term capital gain is nil, and is nil on dividend, as per the release.
The fund manager for this scheme is Ms Srividhya Rajesh.
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