New Sundaram Indian Money Fund
Indian website MoneyControl posted the article, "Sundaram MF seeks SEBI nod for money market fund," which says, "Sundaram Mutual Fund has sought the Securities and Exchange Board of India's approval for launching Sundaram Money Market Fund, according to the draft offer document on SEBI. The open-ended debt scheme will invest its entire corpus in money market instruments." The brief says the fund's risk is "Moderately low, plans are "Regular and direct," options are "Growth and dividend, and the exit load is "Nil." It adds that the minimum is "Rs 1,000 and in multiples of Rs 10 thereafter and that the fund managers are "Siddharth Chaudhary and Sandeep Agarwal. The fund's performance benchmark is the "CRISIL Money Market Index. See also our Jan. 11 Link of the Day, "Paytm may launch Indian money fund, and see our March 28 News, "Worldwide Money Fund Assets: US Jumps in Q4, China Breaks 1.0 Tril." According to Crane Data's analysis of the ICI's latest Worldwide money fund totals, India ranks 10th in the world in market size with $44.8 billion, or 0.8% of assets as of Dec. 31, 2017.
