Financial Daily from THE HINDU group of publications
Wednesday, Sep 04, 2002
Financial Daily from THE HINDU group of publications Wednesday, Sep 04, 2002 |
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Markets
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Mutual Funds Alliance Mutual frontline fund mops up Rs 100 cr Our Bureau
MUMBAI, Sept. 3 ALLIANCE Mutual Fund's Frontline Equity Fund (AFEF), an open-ended equity scheme, had received subscriptions of over Rs 100 crore through its initial public offer, which closed on August 30. According to a press release, AFEF will invest in frontline stocks while ensuring that all leading sectors are represented in its portfolio. The scheme will target sectoral weights of the benchmark BSE-200 on a designated day. The sectoral weights will be computed by aggregating market values of individual stocks sectorwise as a percentage of the total market value of the equity component in the scheme's portfolio. The scheme will have the flexibility of varying the sectoral weights by +/- 25 per cent in the benchmark on the designated day, or by an absolute figure of +/- 3 per cent, whichever is higher. The designated day will be 23rd of every month, the release said.
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