Sundaram Mutual Fund announces launch of Equity Ex-Top 100 Long Short Fund through its SIF platform Select

Sundaram Mutual is entering SIF space with the Select Equity Ex-Top 100 Long Short Fund, an open-ended equity investment strategy investing in equity and equity related instruments with the flexibility to include limited short exposure in equity through derivative instruments of Ex - Top 100 stocks.

The new fund offer or NFO of the fund is open for subscription and will close on November 4. The investment universe of this SIF - Select Equity Ex-Top 100 Long Short Fund would comprise of companies ranked 101st–750th by market capitalization predominantly high growth mid and small cap companies.

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The investment objective of the fund is to generate capital appreciation in the long term by predominantly investing in equity and equity related securities of Ex – top 100 companies. The Investment Strategy may also invest in various derivative instruments, including short exposure through unhedged derivative positions in equity and equity related instruments of Ex – top 100 stocks upto 25%.

The minimum application amount is Rs 10 lakh and in multiples of Re 1 thereafter. The minimum amount for accredited investors is Rs 1 lakh and in multiples of Re 1 thereafter. The minimum threshold requirement is Rs 10 lakh.

“India's transformation, driven by manufacturing, technology, urban consumption and financial inclusion could drive India's next phase of growth. The Select Equity Ex-Top 100 Long Short Fund is designed to identify companies that may benefit from these structural shifts and pursue opportunities that align with the investment objective,” said Anand Radhakrishnan, Managing Director, Sundaram Asset Management Company.

The fund managers’ strategy would be to invest in equity and equity related instruments of Ex – top 100 stocks with a portfolio comprising twenty five (25) to Forty (40) stocks picked from the mid, small and beyond-500 universe using a bottom up approach strategy. The fund will invest in big shifts by identifying mega trends, emerging leaders in manufacturing, premiumisation, technology (viz. tech platforms) etc. with flexibility to take short positions either to hedge and or seek additional returns.

Madanagopal Ramu would be the fund manager for the Select Equity Ex-Top 100 Long Short Fund. The performance of the scheme would be benchmarked against the Nifty MidSmallcap 400 TRI.

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The fund is suitable for investors who are seeking to generate capital appreciation over the long term and want an open ended investment strategy investing in equity and equity related instruments with the flexibility to include limited short exposure in equity through derivatives instruments of Ex-Top 100 stocks.

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