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Mutual Fund Draft Offer Documents - March 3, 2008

Draft offer documents for the following mutual fund schemes are submitted and are put for public view and commenting:

Sundaram BNP Paribas FTP - 90 days - Series 7

Add commentMarch 4th, 2008

Sundaram BNP Paribas Select Midcap sitting on large cash?

Sundaram BNP Paribas Select Midcap is undoubtedly one of the best mutual fund scheme looking at its past performance. After good advertising campaigns, it seems the fund got more number of applications for purchase of its units from its investors. With downpour of money on one side and the huge volatility on the other, it seems Sundaram BNP Paribas is thinking and probably waiting for some good opportunities in the midcap space. For the time being though, the scheme is sitting on a large cash base.

As per the latest issue of its Product guide (March 2007), the scheme had 6% of assets as cash one year ago. Six months ago the percentage rose to 31.9% and now it is about 29.1%.

Sitting on a large cash base, that too for a long time, would not be a great thing to do for investors always want their money work the best. However, in market situations like these, this would become inevitable. Mutual funds should strike a proper balance and put investor money to the best possible use.

Add commentApril 8th, 2007

Dividends announcement for Sundaram Select Midcap

Sundaram Select Midcap, one of the star performing fund last year from Sundaram BNP Paribas Mutual has a dividend announcement of Rs 2.5 per unit on the face value of Rs 10. The investment objective of the scheme seeks to achieve capital appreciation by investing in a diversified basket of stocks that are termed to be midcaps. The record date for the dividend is is February 9, 2007.

101538;Sundaram BNP Paribas Select Midcap-Dividend;18.7821
101539;Sundaram BNP Paribas Select Midcap-Growth;94.6119

Add commentFebruary 10th, 2007

Sundaram BNP Paribas Global Advantage

Sundaram BNP Paribas has filed a draft offer document for this new Fund of Funds MF. As per the information from the draft document available for public view on SEBI’s website, the Sundaram BNP Paribas Global Advantage will be an open end Fund of Fund scheme that may primarily invest in units of mutual funds and exchange traded funds in overseas markets, fixed – income and money market securities in domestic as well as in overseas markets.

The Investment Objective of this fund is as follows:

To achieve capital appreciation by investing in units of overseas mutual funds and exchange traded funds, money market instruments in domestic as well as in the overseas markets. Income generation may only be a secondary objective.

The Investment Style of the fund is as follows:

The fund may pursue a diversified style. The style may be diversified in terms of country choice, fund selection, sector selection, stock selection, and buy/sell decisions. If market conditions warrant, the fund manager will, however, have the flexibility to adopt a conservative approach.

Under normal circumstances, the fund will put a minimum of 65% and a maximum of 100% into Unit of mutual funds and
exchange-traded funds listed on overseas stock exchanges. Similarly a minimum of 0% and a maximum of 35% would be put into Money-market instruments in domestic as well as overseas markets.

Investors need to put in a minimum of Rs. 5000 and a minimum additional purchase of Rs. 500 during the NFO period of the offer. The scheme comes in Growth, Dividend – Payout and Dividend - Reinvestment options.

Entry Load

During the New Fund Offer period, the entry load will be 2.75 per cent. When the scheme opens for investment on an ongoing basis, the entry load will be 2.75 per cent. The entry load shall be applicable irrespective of amount of investment. Investment through the SIP route will also attract the entry load. The Trustees reserve the right to alter the load structure at any time of their choice.

Exit Load

There will be a two-tier exit load structure:
1. If a redemption request is received within six months from the date of allotment, an exit load of 1.50 per cent will be charged
2. For any redemption between six months and twelve months from the date of allotment, there will be an exit load of 1 per cent.
3. For redemptions after 12 months from the date of allotment, the exit load is nil

Add commentJanuary 23rd, 2007

New NFO’s from Sundaram BNP Paribas

Sundaram BNP Paribas MF has come up with two interesting New Fund Offers (NFO) – the Sundaram BNP Paribas Select Small-Cap Fund and the Sundaram BNP Paribas Multiplier Fund.

The Small-Cap Fund will be in NFO from January 10-24, 2007. This close-ended fund will have a corpus capped at Rs 300 crore plus 10-per-cent over
subscription to optimise performance. The fund house has put this fund for those who are ready to take up high-risk in anticipation of high return product and can hold the investment for five years.

The Multiplier Fund will be in NFO from January 10 – 31, 2007. This close-ended fund will have a corpus capped at Rs 500 crore plus 10-per-cent over subscription. The fund house says the fund is ideal for those who can wait for 3 -5 years with the investment for best returns.

Add commentJanuary 14th, 2007