Shriram Group to revive mutual fund operations

India Infoline News Service | Mumbai |

Shriram MF files offer document with SEBI to launch Balanced Fund

Chennai-based Shriram Group has filed offer documents with SEBI (Securities and Exchange Board of India) to launch mutual fund scheme.

The move is part of the company's plan to revive its mutual fund operations.

Shriram Group, which entered into mutual fund business by incorporating Shriram Asset Management Company in 1994, had last year decided to approach SEBI for its permission to launch new schemes.

According to the annual report of the company for the financial year ended March 31, 2012, the company had wound up all its schemes.

Shriram Balanced Fund would invest in debt and equities. The fund would be open-ended, where an investor's money would not be subject to a lock-in.

The fund would allocate a minimum of 65% and a maximum of 100% in equities, while debt holdings could vary between zero and 35%, the documents noted.

At present, there are 44 funds, including foreign funds operating in the country.


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