Sundaram Mutual Fund has filed offer document with SEBI to launch a 10 year close ended equity linked savings scheme as “Sundaram Long Term Micro Cap 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 and Dividend Payout facility and seeks to collect a Minimum Target Amount of Rs 10 crore.
The scheme will be benchmarked against Nifty Small Cap 100. The minimum application amount is Rs 500 and in multiples of Rs 500 thereafter.The investment objective of the scheme is to generate capital appreciation over a period of ten years by predominantly investing in equity and equity-related instruments of companies that can be termed as micro-cap. The investment will be eligible for Income tax benefit.