Financial Daily from THE HINDU group of publications
Friday, Sep 16, 2005
Financial Daily from THE HINDU group of publications Friday, Sep 16, 2005 |
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Markets
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Mutual Funds StanChart Mutual closes equity fund ahead of last date Our Bureau
Kolkata , Sept. 15 STANDARD Chartered MF, which had set a cap of Rs 300 crore for its new equity scheme, has closed initial subscription ten days after opening. Standard Chartered Premier Fund, with September 26 as its latest closing date, proposed to buy stocks at low valuations with a longer-term perspective. Its portfolio would likely to have relatively concentrated holdings. "We have closed the initial offer ahead of the last date," company sources confirmed, adding that the fund had followed a somewhat different distribution strategy, involving select intermediaries. Investors were earlier informed that the scheme, whenever it opened, would similarly pre-fix the amount "to ensure that fund inflows do not exceed the quantum of investment ideas".
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