Sun F&C Value fund has declared its portfolio as on December 31, 1997. The Rs 3.4 crore fund is invested in 34 stock and has an average holding of a mere Rs 10 lakh. The fund, which by constitution follows a value investment strategy, is invested in six software stocks. Interestingly, the other value fund, Templeton India Growth Fund has no Infotech stock in its portfolio.Unit Growth Scheme 10000 in April
The Unit Trust of India plans to launch Unit Growth Scheme 10000 on April 15, 1998. Initially, the fund will be open only for the one million UGS 2000 and UGS 5000 investors. The aim of the preferential offer is to keep the initial issue expense to bare minimum during the initial offer. An interval fund, Unit Growth Scheme 10000 will be subsequently offered to other investors.
The fund will invest only in blue-chip companies. UTI plans to mobilise around Rs 200 crore during the initial preferential offer from UGS 2000 and UGS 5000 investors. UTI has mobilised around Rs 50 crore in twoclosed-end equity funds in 1996 and 1997. UTI has announced the book closure in UGS 2000 and UGS 5000 from March 11, 1997. Besides UGS 5000, UTI plans to launch a sector specific fund targeted at the information technology and bank sectors, an open end debt fund, an infrastructure fund and a turnaround fund.
DSP equity fund reduces load
DSP Merrill Lynch Asset Management Company has reduced the entry load on its equity fund. Instead of the earlier flat rate of 3 per cent, the entry load will now vary from 1.5 per cent to 2 per cent, depending on the amount invested. DSP Merrill Lynch has structured three slabs for the entry load on the equity fund depending on the investment committed. Two per cent entry load would be applicable for investments of less than Rs 5 lakhs, 1.75 per cent for investments between Rs 5.25 lakh and Rs 25 lakh and 1.5 per cent for investments of more than Rs 25 lakh.
MMS '90 goes open-ended
SBI Mutual Fund's Magnum Multiplier Scheme '90 is open for continuoussale and repurchase for new investors from February 2, 1998. The fund is available on a no load basis till February 16. After completing its closed end tenure on December 31, 1997, the fund was converted to an open end fund. It was open for investments only to the existing unit holders in January. During its closed-end tenure, the fund was primarily invested in equities with a 90 per cent exposure.The open end avatar will have a substantial debt exposure to the tune of 30 per cent of its net assets. The top 10 holdings of the scheme are Hindalco, Hindustan Lever, SBI, MTNL, Hindustan Petroleum, Bajaj Auto, Cipla, HDFC, Asian Brown Boveri and Tata Steel.The latest NAV is Rs 9.58.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
