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Standard Chartered mutual plans Asian equity fund

Standard Chartered mutual plans Asian equity fund
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First Published: Tue, Aug 07 2007. 06 45 PM IST
Updated: Tue, Aug 07 2007. 06 45 PM IST
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Mumbai: Standard Chartered Asset Management Co. Pvt. Ltd. on Tuesday (7 August) filed papers with the market regulator to launch an equity fund to invest in companies engaged in providing goods and services to consumers in India and other Asian countries.
Standard Chartered Asian Prosperity Fund would invest at least 65% of the assets in stocks and mutual funds and the rest in debt and money market instruments, the fund house said in its offer document.
The fund will charge an entry load of 2.25% on investment of less than Rs50 million and exit fee of 1% for redemptions within one year. Investment of Rs50 million or more will not attract entry or exit loads.
The fund house managed assets worth about Rs167 billion at the end of July, data from Association of Mutual Funds in India showed.
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First Published: Tue, Aug 07 2007. 06 45 PM IST