Sundaram Mutual mops up Rs 1,679 cr via flexi cap NFO

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Sundaram Mutual raised Rs 1,679 crore in its recently concluded new fund offer on Flexi Cap. It attracted investment from 71,720 investors.

The offer, which closed last month-end, was the second largest in the fund house’s 25-year history. It will reopen for subscription on September 12.

Sundaram Flexi Cap is an open-ended equity scheme with the ability to invest across sectors in large, mid and small cap stocks.

Sunil Subramaniam, Managing Director, Sundaram Mutual, said the support of over 5,800 distribution partners and faith reposed by over 70,000 investors has far exceeded expectations.

Digital played a key role and accounted for nearly half of the collections.

On the whole, Sundaram has assets under management of about Rs 54,840 crore as of August-end. It has a bouquet of 19 equity and 10 fixed-income funds catering to diverse investor preferences.

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