Sahara Mutual Fund unveils new growth scheme
Sahara Mutual Fund on Tuesday announced the launch of 'Sahara Wealth Plus Fund', an open-ended growth scheme with an objective to invest in equity and equity related instruments of companies. The Initial Public Offer (IPO) will open on July 4 and will close on July 22.
Along with the launch of its new mutual fund scheme, the company also unveiled a new corporate identity for Sahara Mutual Fund.
Speaking on the occasion, Rajiv Shastri, CEO, Sahara Mutual Fund, said, “This is a unique initiative by Sahara Mutual fund and perhaps it's the first time in India, a variable fee structure is introduced to a mutual fund product, wherein customers are charged a fee based on the performance.”
“With the introduction of a new concept, we also feel a need to change our corporate identity and convey the transformation we are undergoing to the market at large,” he added.
“Our scheme will feature only those companies whose three year average Return on Equity (ROE) is atleast twice the annualized yield for 5-years Government of India (GOI) security as at the close of March 31 of the previous financial year and will have market capitalization of atleast Rs1bn at the time of investment,” said Naresh Garg, Chief Investment Officer, Sahara Mutual Fund.
Source:
India Infoline
