The New Fund Offering (NFO) by Sundaram Blue Chip Fund , an open-ended equity scheme of Sundaram Mutual, has garnered more than ₹650 crore. The NFO was open from September 17 to October 1. The fund will reopen for subscription on October 14. Despite the challenges of the lockdown, this figure was a significant rise over the previous two NFOs, the fund house said.
Over 46,000 customers from 562 cities participated in the NFO that predominantly invests in large cap blue chip stocks.
“The response to the Sundaram Blue Chip NFO was overwhelming in these challenging times! 60% of the applications received through the Digital mode has been a strong validation of the digital first approach adopted by us,” said Sunil Subramaniam, managing director, Sundaram Mutual.
As of September 2020, Sundaram Asset Management Company has assets under management of about ₹36,497 crore.