Sundaram Mutual Fund has filed offer document with SEBI to launch a close ended equity linked saving scheme named as 'Sundaram Long Term Tax Advantage Fund Series V - VI'. The New Fund Offer price is Rs 10 per unit. Entry load and exit load will be Nil for the scheme. The scheme offers growth, dividend payout and dividend sweep options and seeks to collect a Minimum Target Amount of Rs 10 crore.
The scheme's performance for the scheme will be benchmarked against S&P BSE 500 Index. The minimum application amount Rs 500 and in multiples of Rs 500 thereafter per application.
The investment objective of the is to generate capital appreciation over a period of ten years by investing predominantly in equity and equity-related instruments of companies along with income tax benefit.