InvestorQ : Can you tell me about the recent Sundaram Blue Chip Fund NFO, which closed recently?
Tisha Malhotra made post

Can you tell me about the recent Sundaram Blue Chip Fund NFO, which closed recently?

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Aashna Tripathi answered.
1 month ago
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Chennai based Sundaram Mutual Fund managed to collect Rs.650 crore through the NFO of Bluechip Fund. The NFO had closed for subscription on 01 October and will be available for normal purchase and redemption from 14 October onwards.

Interestingly, this open ended fund from the Sundaram fold had attracted over 46,000 investors spread across 562 cities and towns. This is the highest amount collected by any equity mutual fund in the last one year.

For this NFO, the Sundaram Fund had used a predominantly digital-first approach to the marketing and investment execution process. It had also made extensive use of social media channels as well as a more digital marketing and seamless investment approach.

What is really relevant to other funds is that nearly 60% of the applications actually came through the digital mode. Sundaram has been stuck in the lower AUM bracket and this digital strategy allows them to expand business at a much lower cost in future.

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