Sahara MF files offer document

Sahara Mahindra Mutual Fund has filed an offer document for Sahara Fortune Child Fund. Sahara Fortune Child Fund is a open ended child oriented equity scheme. The issue price will be Rs. 10 per unit.

The investors will have the choice of two plans viz. wealth plan and gift plan for boys and girls, with sub options under the gift plan such as ornament, educational and birthday plans. However the ornament sub option is targeted only at the girls. The scheme have two options namely growth and dividend reinvestment. The wealth plan can be redeemed without any exit load after attaining 21 years of age.

The minimum investment amount would be Rs.3000/- and in multiples of Re.1/- thereafter.

There will be an entry load of 2.25% on the scheme. The scheme carries an exit load of 4.50% if the investment is redeemed within 3 years from the date of allotment of the relevant units. The exit load come down to 3.00% if redeemed on or after 3 years from the date of allotment till the attainment of 15 years of age. There will not be any exit load if the redemption is after 3 years of investment & after attainment of 15 years of age provided the redemption does not exceed 50% of such total investment. However there will be an exit load of 2.00% if investment is redeemed after 3 years of investment of allotment and after attainment of 15 ears of age on any amount exceeding 50% of the investment referred above.

The investment objective is to generate long-term capital appreciation by investing in debt, money market instruments and equity and equity related securities.

The scheme will mainly invest in debt / money market instruments and government securities, normally maturing in line with the maturity profile of the scheme.

The benchmark index for equity investment of the scheme will be Nifty Index. Whereas benchmark index for debt investment of the scheme will be Crisil Composite Bond Fund Index.

The fund manager for the scheme are Mr. A N Sridhar- Equity; Mr. Puneet Srivastava – Debt.