Sundaram Mutual to announce dividends

Sundaram Mutual is in the process of announcing the next round of dividends in their equity funds, starting with Rs 2 per unit for midcap funds, according to Sanjay Santhanam, VP, marketing and sales of Sundaram Mutual.

Sundaram Capex Opportunities Fund closed its new fund offer on Sept 5 with a corpus of Rs 635.25 crore and a folio count of 71,120. It is expected to reopen for ongoing sale and purchase during the first week of Oct this year.

With the equity corpus crossing Rs 1,700 crore the company's asset under management (AUM), it would be nearly 60 per cent of the overall AUM, said T P Raman, MD, Sundaram Mutual. The fund would invest 70-100 per cent of the corpus in equity and equity-related instruments of companies in the capital goods sector.

"We are ready with our portfolio and asset allocation model for Sundaram Capex Opportunities Fund. We are maintaining our equity AUM at more than 50 per cent for more than three months now," said Santhanam.