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CHENNAI, Sept. 6.

SUNDARAM Mutual has reduced the expense ratios on its Sundaram Select Debt Fund across different maturity plans.

The fund, which closed its initial public offering on August 30, garnered a corpus of Rs 53 crore across various plans. Sundaram Select Debt is an open-ended income scheme, offering continuous sale and repurchase of units.

After the reduction, the short-term plan will have an expense ratio of 0.65 per cent per annum against the earlier proposed one per cent; the three-year, five-year and long-term asset plans will have 0.65 per cent per annum against the earlier proposed 1.3 per cent; combined asset plan 1.25 per cent per annum against the earlier proposed 1.7 per cent per annum, according to a Sundaram Mutual press release.

The release quoted Mr T.P. Raman, Managing Director, Sundaram Mutual, as saying that the reduction would ensure that the investors' yields in these funds were bettered. Since Sundaram Select Debt was targeted at knowledgeable investors, mostly institutional and high net worth in nature, who could be accessed without resorting to heavy advertising or marketing, the expense ratios had been reduced.

Sundaram Select Debt was now amongst the lowest in terms of expense ratios across income funds, the release said.

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