The New Fund Offering (NFO) by Sundaram Blue Chip Fund , an open-ended equity scheme of Sundaram Mutual, has garnered more than ₹650 crore. The NFO was open from September 17 to October 1. The fund will reopen for subscription on October 14. Despite the challenges of the lockdown, this figure was a significant rise over the previous two NFOs, the fund house said.Over 46,000 customers from 562 cities participated in the NFO that predominantly invests in large cap blue chip stocks.“The response to the Sundaram Blue Chip NFO was overwhelming in these challenging times! 60% of the applications received through the Digital mode has been a strong validation of the digital first approach adopted by us,” said Sunil Subramaniam, managing director, Sundaram Mutual.As of September 2020, Sundaram Asset Management Company has assets under management of about ₹36,497 crore.
A letter from the Editor
Dear subscriber,Thank you!Your support for our journalism is invaluable. It’s a support for truth and fairness in journalism. It has helped us keep apace with events and happenings.The Hindu has always stood for journalism that is in the public interest. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. As a subscriber, you are not only a beneficiary of our work but also its enabler.We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda.Suresh Nambath
