The Hindu Business Line : StanChart MF launches maiden equity scheme

Mr Naval Bir Kumar, Managing Director, Standard Chartered Mutual Fund, addressing a press conference at the launch of `Classic Equity Fund' in Mumbai on Monday. - Shashi Ashiwal

Mumbai , June 20

STANDARD Chartered Mutual Fund today announced its entry into equity fund mutual business with its maiden fund `Standard Chartered Classic Equity Fund'.

Till now the fund had debt schemes where it managed assets over Rs 8,000 crore.

A diversified fund to deliver consistent returns, it will open for public subscription on June 27 and close on July 14.

Speaking on the occasion, the fund's Managing Director, Mr Naval Bir Kumar, said: "Equity fund business is poised for growth and we are confident that our equity fund assets will overtake our debt fund assets in the not-too-distant future."

He said the equity fund from Standard Chartered is an appropriate fund to capture the India equity story and is suited to become a core part of the portfolio due to its unrestricted style.

"By not committing to any particular sector or theme, we will be able to ensure that it keeps generating consistent returns over a long period of time," he added.

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