Sundaram Mutual has managed to attract investment of Rs 358 crore in its multi-cap Sundaram Equity Fund during the new fund offer period which closed for subscription on August 30.
The open-ended equity scheme will invest across large-, mid- and small capitalisation stocks. Sundaram Equity Fund re-opens for fresh subscriptions on September 16.
Sunil Subramaniam, Managing Director, Sundaram Mutual, said the new fund has attracted investment from over 30,000 investors even as the economy and market remained volatile. The good response for the new issue, he said can be attributed to the strong multimedia marketing campaign across the print, television and digital channels.
In fact, the product marketing video on You Tube was viewed by a record 28 million people. Over 3,600 distribution and advisory partners leveraged on the product visibility to mobilise investments across 488 unique cities and towns from the remotest parts of the country, he added.
The fund will be managed by S Krishnakumar, Chief Investment Officer (Equity) and Equity Fund Manager S Bharath. The performance of the scheme will be benchmarked against S&P BSE 500 TRI Index. Sundaram Asset Management Company has assets under management of about Rs 34,357 crore as on August 31.