Sahara mutual fund launches new scheme

Sahara mutual fund on Tuesday announced the launch of its new scheme Sahara Super 20 fund. The new fund offer is opened for subscription at Rs 10 per unit (plus applicable load). The NFO will close for initial subscription on July 23.

Sahara Super 20 fund is an open-ended growth scheme that aims at providing long-term capital appreciation by investing in pre-dominantly equity and equity related securities of around 20 potentially attractive companies selected out of the top 100 largest market capitalisation companies, at the point of investment. The scheme does not guarantee any assured returns, said a company release.

Naresh Kumar Garg, chief executive officer, Sahara Mutual Fund, said this is the right time to launch a scheme. "The Indian economy is showing signs of revival and is returning to a potential growth path after the global economic slowdown. Political stability is expected to show a better economic growth on the back of improvement in consumer sentiment, policy reforms and projected growth in agriculture and the services sector. It is the large cap companies, mostly the leaders of businesses, which would reflect this growth first and the fund aims at capturing the benefits by investing in such companies.

At least 65 per cent of the total assets will be invested in equity and equity related securities and up to a maximum 35 per cent of the total assets may be invested in debt and money market instruments. The benchmark index of Sahara Super 20 Fund is CNX Nifty. Under the scheme, one can opt for dividend option, (including dividend re-investment option) or growth option. Minimum application amount is Rs 5,000. A Systematic Investment Plan under the scheme is also available, the release said.

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