Sundaram Mutual Launches India’s First Services Mutual Fund – Sundaram Services Fund


Sundaram Mutual Launches India’s First Services Mutual Fund – Sundaram Services Fund

Sundaram Mutual, one of India’s most respected and leading retail-focused mutual funds ranked amongst top ten in its folio concentration in the mutual fund industry, has launched Sundaram Services Fund, an open-ended equity scheme investing in Indian Services Sector. Sundaram Services Fund, the New Fund Offer (NFO), aims to invest between eighty (80) to one hundred (100) percent in, predominantly equity and equity related instruments of, Services Sector of the Indian economy that essentially comprises fifteen (15) distinct sub-sectors across Transportation and Logistics, Healthcare, Retail, BPM, Media and Entertainment, Hospitality and Tourism, Online and Financial Services, Fitness, Education, Staffing, Wealth Management, Aviation, Architecture, Legal and Design Services. The New Fund Offer opened for the subscription on August 29, 2018 and closes on September 12, 2018. The scheme reopens for ongoing subscription or redemption from September 26, 2018.

Commenting on the launch of Sundaram Services Fund, Mr. Sunil Subramaniam, Managing Director and CEO, Sundaram Mutual said, “Sundaram Services Fund is an opportunity to invest in a sector representing 54% of the Indian economy that also happens to be among the world's fastest growing, at 7.6%, in 2018. The gap between Services share of the economy at 54% and of the market capitalisation at only 35% implies huge potential for the future”.

The Fund Managers’ strategy will be to invest in a multi-cap portfolio of Aggressive Small caps, Mid caps and Defensive Large caps, in existing listed universe of 193 stocks identified with Market Cap of 40 Lakh Crore, and Potential New listings in New Age Services. It is important to note that such new age businesses have garnered Private Equity investments in excess of Rs 1.7 Lakh Crores over the last 5 years.

Sundaram Mutual has entrusted the fund management of Sundaram Services Fund to Mr. S. Krishna Kumar, CIO-Equity, as well as equity fund managers, Mr. Rahul Baijal and Rohit Seksaria. The performance of the scheme will be benchmarked against S&P BSE 200.


About Sundaram Asset Management Company:

Sundaram Asset Management Company, a major player in the fund management space with retail focus, has an accomplished and acclaimed track record since it commenced business in 1996 with assets under management of about INR 37,477 crores as on July 31, 2018.

Sundaram Asset Management Company has a bouquet of equity and fixed-income funds catering to diverse investor preferences.

Sundaram Asset Management Company has 93 locations across India covering all leading centers.

For more information on Sundaram Mutual Fund and its products, please visit www.sundarammutual.com

Fund Synopsis:

Scheme Name                    : Sundaram Services Fund.

Scheme Type                      : An open ended equity scheme investing in Services Sector.

Investment Objective       : To seek capital appreciation by investing in equity / equity related instruments of companies   
                                              who drive a majority of their income from business predominantly in the Services sector of  
                                              the economy. Services sector includes healthcare, fitness, tourism & hospitality,                     
                                              transportation & logistics, education, staffing, wealth management, media, retail, apparels,
                                              aviation, legal, architecture, design services, etc.

Asset Allocation          :

Type of Instruments

Minimum
Maximum
Risk Profile
Equity & Equity related instruments of Services Sector
80%
100%
High
Fixed Income and Money Market Instruments
0%
20%
Low to Medium

Benchmark                          : S&P BSE 200

Fund Managers                   : S Krishnakumar, Rahul Baijal & Rohit Seksaria & Dwijendra Srivastava (Fixed Income).

Minimum Application         : For both Regular and Direct Plan: Rs. 5,000/- and multiples of Re. 1/- thereafter
Amount                               per application.

Load Structure
                Entry Load            : N.A.
                Exit Load              : For redemption within 12 months from the date of allotment - 1%.
  For redemption on or after 12 months from the date of allotment - Nil.

New Fund Offer Period   : The Scheme will open for subscription on 29/08/2018 and close on 12/09/2018.

Sundaram Services Fund is suitable for investors who are seeking*
• Long term capital growth,
• Investing in equity / equity related instruments of companies who have business predominantly in the
  Services Sector of the economy.
  *Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.

For Media Enquiries:

Harit S. Tank
Tel.Nos.: 022 – 30100215 Mobile: +91 98194 55607.
Email: harittank@sundarammutual.com or harit.smf@gmail.com

Ajit Narasimhan
Tel.Nos.: 044 – 28569900 / Dir.: 044 – 28569805 Mobile: +91 98840 88925.
Email: ajitn@sundarammutual.com





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AMFI 2nd Mutual Fund Summit 2018 emphasizesrising digital confluence & encouraging fixed income investments..!


AMFI 2nd Mutual Fund Summit 2018 emphasizesrising digital confluence & encouraging fixed income investments..!

Association of Mutual Funds in India (AMFI), the trade association of Asset Management Companies (AMCs) of all Mutual Funds in the country, at its second edition of the annual Mutual Fund Summittoday discussed how the next phase of growth in Mutual Funds would come from -Greater adoption of digital technology ‘#thinkdigital’ in intermediation and customer service; and by developing fixed income segment as the retail investment avenue for the large pool of small investors across the country.

These two initiatives would form the corner stone of AMFI’s key focus areas and would drive the growth for the Indian Mutual Fund Industry across the country over the period of next 12 months.

In line with this focus, the second AMFI CRISIL Fact Book for 2018 was unveiled by Shri Ajay Tyagi, Chairman, SEBI, as the Chief Guest,with the theme aptly titled, “Digital evolution - Can technology be the propelling factor for the industry?”

The annual AMFI Mutual Fund Summit is aimed at channelling discussions about the industry’s strengths and opportunities, celebrating achievements over the past year and addressing challenges, for taking the mutual fund industry to newer heights. The theme of the second edition of the event is to define the roadmap for expansion of the mutual fund industryand enhance the ease of doing business by leveraging on digital technology. The event, also celebrated 25 years of private sector mutual funds in the country.

Shri Ajay Tyagi, Chairman, Sebi, in his key note address said, “Indian mutual fund industry needs to think of new & innovative ways towards contributing to the deepening of the bond market. In this context use of bouquet of products like debt ETFs and bond index tracking funds could perhaps be considered for development.”

He added, “I feel the time is now ripe for the industry to concentrate on B-30 centres and perhaps B-50 centres. There is a need for accelerated and faster growth in geographical reach of MFs and bring in long term money from smaller towns. This is also necessary given that there is overall policy focus to channelize more of household savings towards financial assets. I hope that the dispensation to allow AMCs to charge additional TER of 30 bps of new inflows from beyond top 30 cities would facilitate in further deepening the industry”.
 Shri Ajay Tyagi, Chairman, Sebi along with Shri A Balasubramanian, Chairman, AMFI, Shri N S Venkatesh, CEO, AMFI, Shri Deepak Parekh, Chairman, HDFC Ltd and at the AMFI Second Mutual Fund Summit organised in Mumbai. AMFI in association with Crisil launched AMFI CRISIL Fact Book for 2018, which was unveiled on the occasion.

Speaking on the occasion, Shri A Balasubramanian, Chairman,AMFI said, “I am happy to emphasise that as private MF industry completes 25 years, the industry asset base too is clocking new heights and is at a close distance of touching an asset base of INR 25 lac crores. Taking fixed income products to retail mass is the next journey that we are aiming at. AMFI’s Mutual Fund Sahi Hai Campaign is now being targeted towards building fixed income as an asset class.’’

‘’On the digital front, I would also like to share that, AMFI is collaborating with all the AMC’s to re-energise the industry platform – MF Utility (MFU). In fact, all the AMC CEOs have in principle agreed to re-capitalize the MFU and help in its development to emerge as an industry-leading digital platform,’’ Mr Balasubramanian said.

On the cost structures, Mr Balasubramanian said, any further reduction in expenses would pave path for other industry players such as PMS, AIFs and also ULIP products which have differential cost structures to have an edge over mutual funds and become more attractive for the intermediaries. This may act as a deterrent for the Mutual Fund Industry and eat away the share of savings pool.’’

Shri Deepak Parekh, Chairman of HDFC Ltd., the Guest of Honour at the event while sharing his vision for the Indian mutual fund industry emphasised on important trends including doubling of AAUMs to INR 50 Lakh crore in the next five years, inculcating ethical and investor-focussed approach towards distribution, digital disruption and protection of customer data, orienting investor approach towards long term investing, and also nurturing talent for heralding bright future for the Indian Mutual Fund industry.

Shri N S Venkatesh, Chief Executive, AMFI said: ‘’Mutual Funds are playing a truly multi-faceted role in meeting various financial needs of Indians. Sebi is playing a pivotal role with its constant guidance, as always, which is helping provide a major thrust for the mutual fund industry. Mutual Funds are now perfectly placed to help channelize the savings of individual investors to Indian financial markets and help power the growth of the emerging new India.’’

Smt Usha Thorat, Former Deputy Governor, RBI spoke on strengthening the debt market, while Shri Vijay Shekhar Sharma, Founder & CEO of Paytm, spoke at the summit on,“Leveraging Technology for the next phase of growth”.
According to the latest edition of the AMFI-CRISIL Fact Book, the ratio of the mutual fund industry’s assets under management (AUM) to bank deposits has grown to a healthy 22% as of March 2018, up from mere 13% as of March 2016. During the period of March 2017 to June 2018, the average AUM grew to INR 23.4 lakh crore from INR 18.3 lakh crore, a growth of 39%. The average number of folios too grew by 35% or an addition of more than 1.92 crore folios. The number of folios increased to 7.46 croreof which 2.28 crore portfolio are SIP portfolios, from earlier 5.54 crore folios.

The report goes on to mention that the mutual fund industry has been an early adopter of technology and this has paid rich dividends and can be seen in the rapid influx of digital money into the industry; the share of gross flows through digital mode has grown from just about than 0.5% two years back to nearly 10% as of June 2018.

The full day event saw eminent CEOs and top management personnel from various fund houses and representatives from distribution partners and associations discuss ways in which customer base could be broadened.

About AMFI

The Association of Mutual Funds in India (AMFI) is dedicated to developing the Indian Mutual Fund Industry on professional, healthy and ethical lines and to enhance and maintain standards in all areas with a view to protecting and promoting the interests of mutual funds and their unit holders.

AMFI, the association of SEBI registered mutual funds in India of all the registered Asset Management Companies, was incorporated on August 22, 1995, as a non-profit organisation. As of now, all the 42 Asset Management Companies that are registered with SEBI, are its members.
For further details, please contact:

For Further information, Please contact:
AMFI
Punit Dharamsi: 9833519998
punit.dharamsi@amfi.com

Ketchum Sampark
Darshana Vyas: 9920231233
darshana.vyas@ketchumsampark.com

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Ayushman Bharat comprehensive need-based health care service.

Ayushman Bharat (AB) is an attempt to move from sectoral and segmented approach of health service delivery to a comprehensive need-based health care service.

The Government of India is cognizant that primary Health Care is currently focusing largely on Reproductive, Maternal, Newborn, Child and Adolescent Health (RMNCH+A) and communicable diseases. This poses a challenge given the epidemiological transition, where non-communicable diseases accounts for nearly 62% of deaths among men and 52% among women – most of which are premature in nature. 

The situation is exacerbated by the fact that there is low utilization of public health system, especially at the level of Community Health Centre (except for child birth related services). There is lack of effective gate-keeping and referral, leading to fragmentation of health care services. Families are forced to incur high out of pocket expenditure thereby leading to impoverishment and poverty on account of medical and hospitalization expenses. 

Health is an important cornerstone to the Government’s vision of development, ‘Swasth Bharat, Samriddha Bharat (Healthy India, Prosperous India). To fulfil the vision of Health for All and Universal Health Coverage, enshrined in the National Health Policy 2017, the Government conceived Áyushman Bharat’ (Healthy India), a pioneering initiative led by Hon’ble Prime Minister.

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Ayushman Bharat (AB) is an attempt to move from sectoral and segmented approach of health service delivery to a comprehensive need-based health care service. Ayushman Bharat aims to undertake path breaking interventions to holistically address health (covering prevention, promotion and ambulatory care), at primary, secondary and tertiary level. Ayushman Bharat adopts a continuum of care approach, comprising of two inter-related components. 
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The first component, pertains to creation of 1,50,000 Health and Wellness Centres which will bring health care closer to the homes of the people. These centres will provide Comprehensive Primary Health Care (CPHC), covering both maternal and child health services and non-communicable diseases, including free essential drugs and diagnostic services. The first Health and Wellness Centre was launched by the Hon’ble Prime Minister at Jangla, Bijapur, Chhatisgarh on 14 April 2018. The second component is the National Health Protection Mission (NHPM) which provides health protection cover to poor and vulnerable families. The Health and Wellness Centres will play a critical role in creating awareness about AB-NHPM, screening for non-communicable diseases, follow-up of hospitalisation cases among others.


These two far-reaching initiatives under Ayushman Bharat will build a New India 2022. This path-breaking initiative, which will be implemented at an unprecedented scale will bring a paradigm shift in India’s health sector.

 

It will help India capitalize its demographic dividend, ensure enhanced productivity, well-being and avert wage loss and impoverishment.
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Ayushman Bharat-National Health Protection Mission - AB-NHPM FAQs

Ayushman Bharat-National Health Protection Mission - AB-NHPM

 FAQs

What is Ayushman Bharat – National Health Protection Mission (AB-NHPM)?

Ayushman Bharat-National Health Protection Mission (AB-NHPM) is a pioneering initiative of Prime Minister Modi to ensure that poor and vulnerable population is provided health cover. This initiative is part of the Government’s vision to ensure that its citizens – especially the poor and vulnerable groups have universal access to good quality hospital services without anyone having to face financial hardship as a consequence of using health services.

AB-NHPM provides an insurance cover upto Rs 5 lakh per family, per year for secondary and tertiary hospitalization. All pre-existing conditions are covered from day 1 of implementation of AB-NHPM in respective States/UTs.
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