Sundaram Mutual Fund launches new close-ended equity scheme

Sundaram Mutual Fund today announced the launch of 'Sundaram Top 100 - Series 1', which is a three year close-ended equity scheme.
It aims to invest predominantly, between 95 per cent to 100 per cent, in equity securities which are complied with Rajiv Gandhi Equity Savings Scheme (RGESS), it was officially announced.
"We believe that quarterly GDP has bottomed out and the domestic economy is set to improve. Cyclical stocks are poised to benefit from this recovery," Deputy Chief Executive Officer of Sundaram Mutual Fund Sunil Subramaniam told reporters here.
He also said the company's new scheme is created with a bouquet of handpicked ideas intended to deliver value to investors.

Sundaram MF had average assets under management worth Rs 16,760 crore by the end of April 2014.