Sundaram Mutual Fund has rolled out its latest financial offering ‘Sundaram Top 100 – Series 1,’ which is a three year close-ended equity scheme.
The new fund seeks to invest primarily between 95% to 100% in equity securities, which comply with Rajiv Gandhi Equity Savings Scheme (RGESS).
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Sundaram Mutual Fund deputy-CEO Sunil Subramaniam was quoted by PTI as saying, "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," Subramaniam told the publication.
He further explained that the company’s new scheme has been developed with a bouquet of selected ideas intended to provide value to investors.
Sundaram MF had average assets under management worth INR167.6bn ($2.79bn) by the end of April 2014.
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