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Categorisation & Rationalisation of Mutual Fund Schemes

Categorisation & Rationalisation of Mutual Fund Schemes

SEBI has issued circulars dated October 06, 2017 and December 04, 2017, in order to bring the desired uniformity in the practice, across Mutual Funds and to standardize the scheme categories and characteristics of each category. The objective is to bring uniformity in the characteristics of similar type of schemes launched by different Mutual Funds and to ensure that an investor of Mutual Funds is able to evaluate the different options available, before taking an informed decision to invest in a scheme. Placed below are Sundaram Mutual Fund's updated scheme names, category and scheme types for your information. For further details, please refer notice cum addendum issued in this regard here.

Table
S.No. Old Scheme Name New Scheme Name Category & Type of scheme
1 Sundaram Equity Multiplier Sundaram Large and Mid Cap Fund Large & Mid Cap Fund
An open-ended equity scheme investing in both large cap and mid cap stocks
2 Sundaram Select Mid Cap Sundaram Mid Cap Fund Mid Cap Fund
An open-ended equity scheme predominantly investing in mid cap stocks
3 Sundaram S.M.I.L.E Sundaram Small Cap Fund Small Cap Fund
An open-ended equity scheme predominantly investing in small cap stocks
4 Sundaram Select Focus Sundaram Select Focus* Focused Fund
An open-ended equity scheme investing in maximum 30 stocks of large cap companies
5 Sundaram Balanced Fund Sundaram Equity Hybrid Fund Aggressive Hybrid
An open-ended hybrid scheme investing predominantly in equity and equity related instruments
6 Sundaram Rural India Fund Sundaram Rural and Consumption Fund Sectoral/ Thematic
An open-ended equity scheme investing in Rural and/ or consumption sector
7 Sundaram Infrastructure Advantage Fund Sundaram Infrastructure Advantage Fund* Sectoral/ Thematic
An open-ended equity scheme investing in Infrastructure theme
8 Sundaram Financial Services Opportunities Fund Sundaram Financial Services Opportunities Fund* Sectoral/ Thematic
An open-ended equity scheme investing in Financial services sector
9 Sundaram Equity Plus Sundaram Multi Asset Fund Multi Asset Allocation
An open-ended scheme investing in Equity, Fixed Income and Commodity ETFs/ REITs/ InvITS
10 Sundaram Diversified Equity# Sundaram Diversified Equity* ELSS
An open-ended equity linked savings scheme with a statutory lock in of 3 years and tax benefit
11 Sundaram Global Advantage Fund# Sundaram Global Advantage Fund* FoFs (Overseas/ Domestic)
An open-ended fund of fund scheme investing in Emerging Markets/ Real Estate and Commodity funds
12 Sundaram Nifty 100 Equal Weight Fund# Sundaram Nifty 100 Equal Weight Fund* Index Funds/ ETFs
An open-ended scheme replicating Nifty 100 Equal Weighted index
13 Sundaram Money Fund Sundaram Money Fund* Liquid
An open-ended liquid scheme
14 Sundaram Ultra Short Term Fund Sundaram Low Duration Fund Low Duration Fund
An open-ended low duration debt scheme investing in instruments with Macaulay duration between 6 months and 12 months
15 Sundaram Flexible Fund - Flexible Income Sundaram Corporate Bond Fund Corporate Bond Fund
An open-ended debt scheme predominantly investing in AA+ and above rated corporate bonds
16 Sundaram Banking & PSU Debt Fund Sundaram Banking & PSU Debt Fund* Banking & PSU Debt
An open-ended debt scheme predominantly investing in debt instruments of banks, Public Sector Undertakings, Public Financial Institutions and Municipal Bonds
17 Sundaram Bond Saver Sundaram Medium Term Bond Fund Medium Duration Fund
Investment in Debt & Money Market instruments such that the Macaulay duration of the portfolio is between 3 years and 4 years
18 Sundaram Select Debt Short Term Asset Plan Sundaram Short Term Debt Fund Short Duration Fund
An open-ended short term debt scheme investing in instruments with Macaulay duration between 1 year and 3 years
19 Sundaram Income Plus Sundaram Short Term Credit Risk Fund Credit Risk Fund
An open-ended debt scheme predominantly investing in AA and below rated corporate bonds
20 Sundaram MIP-Aggressive Sundaram Debt Oriented Hybrid Fund Conservative Hybrid Fund
An open-ended hybrid scheme investing predominantly in debt instruments
21 Sundaram Gilt Fund Merged with Sundaram Corporate Bond Fund Click here for the merger addendum
22 Sundaram Regular Savings Fund Merged with Sundaram Corporate Bond Fund Click here for the merger addendum

* denotes "No Change in Name" ,# denotes "No Change in Fundamental Attributes"