Shriram AMC to launch Shriram Multi-Asset Allocation Fund on Aug 18
Shriram Asset Management Company would launch its latest Shriram Asset Allocation Fund on August 18, a top official said here on Thursday. The company, part of the diversified conglomerate Shriram Group, expects to offer long term 'inflation-adjusted wealth creation' through exposure to multiple assets including equity, debt, gold Exchange Traded Funds (ETFs).
The New Fund Offer will close on September 1, 2023, Shriram Asset Management Company MD and CEO Kartik L Jain said. «Analysis of the last five years indicates that the category of multi asset allocation funds has shown lesser volatility with equity-like returns; this is a good option for goal planning,» he told reporters.
According to Jain, the fund is suitable for those aged between 25 and 35 and also 35 and 45 years who are interested in long-term financial goals. Investors can regularly invest in this fund through Systematic Investment Plans, top up or Systematic Transfer Plans from liquid or overnight funds to meet their financial and family goals, the company said.
«The minimum investment amount for lumpsum is Rs 5,000 while for SIPs it is Rs 1,000 per month or Rs 3,000 per quarter», he said and added there was no lock-in period. Jain further said 65-80 per cent corpus of the fund would be invested in equity, which include 30 to 40 stocks from Shriram AMC's proprietary Enhanced Quantamental Investment model.
The model relies on statistical data to make the right investment decisions for better fund performance while integrating quant as well as fundamental inputs for portfolio construction. The new fund offers the investor the benefit of Long Term Capital Gains Tax at 10 per cent plus surcharge and cess, if they cross Rs 1 lakh of capital gains in a financial
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