Sahara MF launches Super 20 Fund
By siliconindia | Monday, June 29, 2009
Bangalore: Sahara Mutual Fund has launched its new equity scheme named as 'Sahara Super 20 Fund'. This open ended growth scheme has been launched with the aim of providing long term capital appreciation in equity and equity related securities to around 20 potentially attractive companies selected out of the top 100 largest market Capitalization Companies, at the point of Investment. The new fund offer (NFO), a security offering in which investors may purchase units of a closed-end mutual fund has opened for subscription on June 25, 2009. During the NFO period, the units of "Sahara Super 20 Fund" can be subscribed at 10/- per unit (plus applicable load). The NFO would close for initial subscription on July 23, 2009. On the launch of the scheme, Naresh Kumar Garg, CEO, Sahara Mutual Fund said, "The Indian economy is showing signs of revival and is returning to a 'potential growth path' after adjusting itself to the disturbance witnessed in the global economic environment. The political stability has further improved the outlook of the economy and it is expected to show a better growth on the back of improvement in consumer sentiment, policy reforms and projected growth in agriculture, and services sector." "Under such a scenario, it is the large cap companies, which would reflect this growth first and the fund aims to capture the benefits by investing in such companies," he added. The new scheme, which is benchmarked to CNX Nifty, does not guarantee any assured returns. At least 65 percent of the total assets will be invested in equity and equity related securities and upto a maximum 35 percent of the total assets may be invested in debt and money market instruments." At present, the scheme offers two options i.e. Growth and Dividend option for investment. Under dividend option, investors can choose either dividend payout or reinvestment. Systematic investment plan (SIP) is also available with the scheme. The minimum investment amount for the scheme is 5000 and in multiples of Re.1 thereafter. Investors will also be charged an entry load of 2.25 percent and exit load of one percent for investments of greater than or equal to 1 Crore, if redeemed on or before one year from the date of allotment. No exit load is applicable for investments less than 1 crore. AN Sridhar has been appointed as the fund manager of the new scheme.