Financial Daily from THE HINDU group of publications
Wednesday, Apr 20, 2005
Financial Daily from THE HINDU group of publications Wednesday, Apr 20, 2005 |
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Markets
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Mutual Funds Chola Mutual launches global fund
MUMBAI: Chola Mutual Fund on Tuesday launched the Chola Global Advantage Fund. The fund seeks to invest in Indian companies that are expanding globally and are expecting at least 20 per cent of their turnover to come from export income. It would also focus on companies that have made acquisitions abroad or plan to foray into foreign markets, according to Mr Sashi Krishnan, Chief Executive, Chola Mutual Fund. "Companies with a footprint in the global markets usually have higher sales, profit and market cap growth," Mr Krishnan added. The fund's initial public offer, which is to remain open till May 16, has Rs 5,000 as the minimum application amount. The fund would be benchmarked against the S&P CNX 500. — Our Bureau
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