Goldman Sachs MF unveils India Equity Fund

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Goldman Sachs MF unveils India Equity Fund
Goldman Sachs Mutual Fund has launched a new fund named as Goldman Sachs India Equity Fund, an open ended equity scheme. The scheme re-opens for continuous subscription and redemption on or before 16 November 2012.

Investment Objective:

The investment objective of the scheme is to seek to generate long-term capital growth from an actively managed portfolio primarily of equity and equity related securities.

The scheme has two options i.e. growth option and dividend option. Dividend Option has two sub-options: dividend payout and dividend reinvestment option.

Systematic Investment Plan (SIP), Systematic Transfer Plan (STP) and Systematic Withdrawal Plan (SWP) are offered under the scheme.

Allocation of Funds:

The scheme would allocate 80% to 100% of assets in equities & equity related securities with high risk profile. On the other side, it would allocate upto 20% of assets in debt securities & money market instruments (including cash & cash equivalents) with low to medium risk profile.

The fund seeks to collect a minimum subscription amount of Rs 20 crore under the scheme during the NFO period.

Entry load charge for the scheme will be nil. Exit load charge will be 1% if the units are redeemed / switched out within 1 year of allotment of units. No exit load will be charged if the units are redeemed after 1 year of allotment.

Prashant Khemka will manage the scheme. Aman Batra will manage investments in foreign securities.

Basic Details:

NFO Opens: October 17, 2012
NFO Closes: October 31, 2012
NFO: Rs 10 per unit
Minimum application: Rs 5000 and in multiples of Rs 1 thereafter.
Benchmark: S&P CNX 500 Index.

Read more about: mutual funds, goldman sachs
Story first published: Tuesday, October 23, 2012, 13:02 [IST]
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