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Sundaram Mutual Fund Investment Company has launched a new close-ended equity scheme called as Sundaram Emerging Small Cap Series VII. The NFO will be open for subscription from September 10, 2018, to September 24, 2018.
The tenure of the Sundaram Emerging Small Cap Series VII scheme is 5 years from the date of allocation of the units. The NFO price for the scheme is 10 Rupees per unit.
The new Emerging Small Cap fund will be investing predominantly in small-cap stocks. The investment objective of the mutual fund scheme is to seek capital appreciation by investing mainly in equity or equity-related securities of Small Cap companies. However, the fund house does not guarantee or assure that the investment objective will be accomplished.
The Emerging Small Cap scheme of the Sundaram Mutual Fund Investment Company offers both Regular and Direct plans with Growth and Dividend Payout & Sweep options.
The minimum application amount for the scheme is 5000 Rupees for the initial investment and in multiples of 10 Rupees thereafter. There will be no entry load charge, and exit load charge is not applicable for the scheme.
The new close-ended equity scheme will invest 65 percent to 100 percent of its assets in equity and equity-related securities of small cap companies with a high-risk profile. The scheme will further invest up to 35 percent of its assets in other equity instruments with high-risk profile and up to 35 percent of assets in fixed income and money market instruments with low to medium risk profile.
The new Sundaram Mutual Fund scheme aims to collect a minimum subscription amount of 10 crore Rupees during the NFO period.
The performance of the Sundaram Emerging Small Cap Series VII scheme will be benchmarked against S&P BSE 250 Small Cap Index. S Krishnakumar and Dwijendra Srivastava are the fund managers of this new scheme, according to KJMC.
The Emerging Small Cap fund is suitable for investors who are looking out for long-term capital growth, and who are seeking investment mainly in equity or equity-related securities of Small Cap companies, according to information in the official website of the Sundaram Mutual Fund Investment Company.
The post Sundaram Mutual Fund Investment Company Launches New Emerging Small Cap Scheme appeared first on OWLT Market.
As per the latest Binance news update received on September 6, the world’s largest digital asset platform has hired Wei Zhou as its Chief Financial Officer (CFO). Zhou who is an experienced capital markets specialist will be heading the Binance finance team and will also be responsible for the management of financial risks.
Wei Zhou who holds a Bachelor of Economics and East Asian studies degree from the Harvard University, began his career in Goldman Sachs, Hong Kong. Zhou worked there for four years in the role of a specialist in the investment banking division till 2015. The major part of Zhou’s professional experience pertains to successful Initial Public Offerings (IPOs) of two of his earlier employers.
As gathered from the Binance news update, Zhou led the IPOs of both Zhaopin Limited and Charm communication on the NASDAQ and New York Stock Exchange (NYSE) respectively. Zhou was the CFO of Zhaopin Limited, a Chinese online recruitment platform and Charm communication, one of the country’s leading advertisement companies.
Changpeng Zhao, Binance CEO has denied any plans of going public despite Zhou’s IPO skills. Zhou was hired around the time when one of Binance’s key competitors, US Robinhood is apparently preparing for an IPO and is actively seeking for a CFO, as stated in the Cryptovest news report.
Zhou is one of the latest examples of managers who belonged to the traditional financial system and later moved on to the blockchain and crypto world. Japanese cryptocurrency startup, FXcoin hired Yasuo Matsuda, earlier this week. Matsuda is an ex-Deutsche Bank dealer where he worked as the bank’s virtual coin strategist.
Other than this latest Binance news update, the Coinbase exchange also announced towards the end of last month that it has hired an alumnus of Bank of New York Mellon, Jeff Horowitz. Horowitz was hired to lead Coinbase’s global compliance efforts. Horowitz earlier worked as the global head of compliance and managing director of Pershing, a subsidiary of the firm, as stated in the CCN report.
The post Binance News: Wei Zhou To Lead Binance Finance Team As New CFO appeared first on OWLT Market.