Sundaram launches 'Energy Opportunity' fund

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Chandigarh, Nov 14 (UNI) Sundaram BNP Paribas Mutual has launched its Select Thematic Funds Energy Opportunities, a close-end equity scheme which would convert automatically into an open-end scheme on completion of three years.

Mr T P Raman, Managing Director of the company, told reporters here that the fund would primarily focus on energy sector which entails gas production and distribution, oil, non-conventinal energy, power, refineries and related infrastructure services.

He said, ''Sundaram BNP Paribas Select Thematic funds Energy Opportunities offer energy sector investment window to the investors providing them an opportunity to participate in the sector's growth. The objective of this thematic fund is to seek long term capital appreciation by investing primarily in equity and equity-related instruments of the sector companies in the domestic market which hold vast potential investment opportunities.'' Mr Raman said the issue is offered at Rs 10 each unit for cash and has no entry and exit load. The fund would be benchmarked agaisnt BSE Oil and Gas Index fund and opened for subscriptions on November 12 and will close on December 11.

UNI

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