Sundaram Mutual Bluechip Fund NFO mobilizes Rs 650cr

SMF Sundaram Mutual Bluechip Fund NFO mobilises Rs 650cr
SMF Sundaram Mutual Bluechip Fund NFO mobilises Rs 650cr

Sundaram Mutual Bluechip Fund offering has collected over Rs 650 crore from over 46,000 customers across 562 cities. It is an open-ended equity scheme predominantly investing in large cap blue chip stocks which was open between September 17 and October 1, 2020.

“The response to the Sundaram Bluechip NFO was overwhelming in these challenging times, where 60% of the applications received through the Digital mode has been a strong validation of the Digital First approach adopted by us. We have always been retail-focussed in its distributor and customer approach,” MD Sunil Subramaniam said.
The fund house said, “It is notable that, despite the challenges of Covid pandemic and the lockdown, this collection figure is a significant increase over those of the previous two NFOs.”

It had collected about Rs.358.95 crore under Sundaram Equity Fund in September, 2019 and Rs.485.12 crore under Sundaram Balanced Advantage fund in March, 2020.

The Fund reopens for subscription on October 14, 2020.

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