Sundaram Mutual Fund launches Sundaram Top 100 Series 1

Mutual Fund
May 8, 2014 by Advisorkhoj Team | Mutual Fund | 43 Downloaded

Sundaram Mutual Fund launches Sundaram Top 100-Series - A closed-end equity scheme which shall invest in eligible securities as per Rajiv Gandhi Equity Savings Scheme (RGESS), 2012 as amended from time to time. The Scheme is in compliance with the provisions of RGESS guidelines notified by Ministry of Finance vide notification no. 51/2012 F.No. 142/35/2012-TPL dated November 23, 2012.

New Fund Offer opens : 05/05/2014 and closes on 23/05/2014

The salient features of Sundaram TOP 100 Series 1-RGESS (Rajiv Gandhi Equity Savings Scheme)

  • The scheme is applicable only to individuals. Thus, the benefit of tax deduction is not available to any other category of tax payer.

  • The maximum deduction will be on investment up to Rs. 50,000 during the Financial Year 2014-15.

  • The deduction will be at the rate of 50 per cent of the amount invested in equity shares.

  • The total income of the individual should not exceed Rs. 12 lakhs. Hence, if the income exceeds Rs. 12 lakhs, the benefit will not be granted.

  • The assessee should be a new retail investor in shares.

What is the investment objective of this Scheme?

The Investment objective is to generate capital appreciation from a portfolio that is substantially constituted of equity securities specified as eligible securities for Rajiv Gandhi Equity Savings Scheme,2012. The Scheme may also invest a certain portion of its corpus in cash & cash equivalent and money market instruments from time to time of Sundaram TOP 100.

This product is suitable for investors who are seeking*

  • long term capital growth.

  • Investment in equity / equity-related instruments of companies specified as eligible securities under RGESS.

  • High Risk Brown BROWN

*Investors should consult their financial advisers if in doubt about whether the product is suitable for them

Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.