Standard Chartered Premier Equity Fund re-opens for subscription

15 Apr 2008 | 15:30

Standard Chartered Premier Equity Fund re-opens for subscription

Standard Chartered mutual fund has decided that Standard Chartered Premier Equity Fund is re-opened for subscription from 15 April 2008.

Standard Chartered Premier Equity Fund is an open-ended equity scheme with an objective to generate long-term capital growth from an actively managed portfolio of predominantly equity and equity related instruments.

The Standard Chartered Premier Equity Fund launched in September 2005 has now re-opened for subscription through lump sum investment as well as systematic investment plan (SIP). The SCPEF will be open for subscription from 15th April 2008. The fund will close after collection of a predetermined manageable corpus, which will be decided by the fund manager of the scheme after accessing the investment opportunities available in the stock market.

The fund will normally invest 65%-100% in equity and equity related instruments, 0% - 35% in debt and money market instruments, 0% - 35% in securitised debt instruments. Investment in derivatives, securities lending, foreign debt instruments and ADR / GDR shall be up to 50%, and up to 35%, up to 35% and 50% (subject to SEBI Regulations) of Net Assets of the scheme respectively. The fund is benchmarked to BSE 200.

During the ongoing offer period load will be charged as follows:

The amount to be invested (including by way of SIP/STP) being less than Rs. 5 Crores: 2.25%, Rs. 5 Crores or more (including by way of SIP/STP): nil, by an FOF (irrespective of the amount of Purchase): nil, by way of dividend re-investment: nil.

A switch-in/STP may also attract an entry load like any purchase however no load shall be chargeable on investments switched in by investor from any other equity schemes of Standard Chartered Mutual Fund (other than in case of switch-ins of less than Rs. 5 Crores from Standard Chartered Arbitrage Fund, where entry load of 2.25% shall be applicable).

Such switches may however be subject to exit load as applicable in the scheme from where the investments are switched out. No entry load shall be charged in case of direct investments.

Exit Load: For redemption within 1 year from the date of subscription applying first in first out basis for investments (including through SIPs/ STPs/ SWP/STAR), there will be an exit load of 1%. There will be no exit load for investment made by FOF scheme irrespective of amount of redemption / switch out.