Sundaram BNP Paribus Mutual Fund has wound up Sundaram BNP Paribus Select Debt –Dynamic Asset Plan with effect from 7 April 2009. The scheme has been ceased because it was not able to fulfill the provision of the minimum 20 investors in schemes, as stated in Regulation 39 (2)(c) of Securities and Exchange Board of India Regulations, 1996.
A Sebi circular dated 12 December 2003, stated that each scheme and individual plan(s) under the schemes should have a minimum of 20 investors and no single investor should account for more than 25% of the corpus of such scheme/plan(s). In the case of non-fulfillment with above conditions, accordingly schemes/plans shall be wound up by following the guidelines laid down by Sebi.
Accordingly, there would be no further activity and no further units would be created in the Plan.
Sundaram BNP Paribus Select Debt –Dynamic Asset Plan was launched in August 2002 with an investment objective to seek to earn regular income by investing primarily in fixed income securities, which may be paid as dividend or reinvested at the option of the investor.
A Sebi circular dated 12 December 2003, stated that each scheme and individual plan(s) under the schemes should have a minimum of 20 investors and no single investor should account for more than 25% of the corpus of such scheme/plan(s). In the case of non-fulfillment with above conditions, accordingly schemes/plans shall be wound up by following the guidelines laid down by Sebi.
Accordingly, there would be no further activity and no further units would be created in the Plan.
Sundaram BNP Paribus Select Debt –Dynamic Asset Plan was launched in August 2002 with an investment objective to seek to earn regular income by investing primarily in fixed income securities, which may be paid as dividend or reinvested at the option of the investor.
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