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Shriram Long Term Equity Fund Floats On
(11:58, 04 Dec 2018)
Shriram Mutual Fund has launched a new fund named as Shriram Long Term Equity Fund, an open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 17 December to 18 January 2018.

The Investment Objective of the scheme is to generate income and long-term capital appreciation from a diversified portfolio of predominantly equity and equity related securities and enable investors to avail the income tax rebate, as permitted from time to time.

The scheme offers regular plan and direct plan for investment. Both plans offer growth option and dividend option. Dividend option has sub-options of dividend (payout).

The scheme would allocate 80%-100% of assets in equity and equity related securities with medium to high risk profile and invest upto 20% of assets would be allocated to debt & money market instruments with low risk profile.

The minimum application amount is Rs 500/- and in multiples of Rs. 500/- thereafter.

The minimum additional purchase amount is Rs 500/- and in multiples of Rs. 500/- thereafter.

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period.

Entry load: Not Applicable

Exit load: NIL

Benchmark Index for the scheme is NIFTY 500 TRI.

The fund managers of the scheme are Kartik Soral.

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