Standard Chartered Mutual Fund on Wednesday launched a close-ended Enterprise Equity Fund that
would invest 10 per cent of its corpus in public offerings.
The fund house expects to mop up Rs 300-500 crore (Rs 3 to 5 billion) under this new fund.
"We are expecting to garner in the range of Rs 300-500 crore from Enterprise Equity Fund. Many Indian companies, both public and private, are slated to seek funds from the markets
in the next two to three years.
"As per reliable data available with us more than 200 companies are slated for listing, in 2005-06, companies have
raised Rs 23,000 crore (Rs 230 billion) through fresh equity," Standard Chartered AMC, fund manger, Kenneth Andrade told reporters.
The minimum investment required in this three year close ended fund would be Rs 5,000 and the fund would be
automaticlly converted into open ended after three years, he said.
There would be no entry load, and the exit load for redemption made from the date of allotement to June 30 2007 will be 3 per cent, from July 1 2007 to June 30, 2008 would be 2 per cent and from July 1 to December 31, 2008 will be 1 per cent on the scheme.
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