GRINDLAYS SUPER SAVER INCOME FUND |
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- Initial offer opens: 13,
June 2000
- Closing Date: 7, July 2000
- Nature of Scheme: Open Ended
- AMC: M/s. ANZ Grindlays Asset
Management Company (P) Ltd.
- Load: No entry load during the
initial period
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- Continuous Offer opens: within 30
days from the close of the initial offer period
- Sponsor: ANZ Banking Group Limited
- Trustee: M/s. ANZ Grindlays Trustee
Company (P) Ltd.
- Minimum subscription:500 units at
Rs.10/- per unit at par amounting to Rs.5000/-
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Objective of
the present fund: To seek to generate stable long term returns with a low risk
strategy by creating a portfolio that is invested in good quality fixed income and money
market securities.
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- This scheme offers dividend option and Growth option.
- The scheme also offers a recurring investment and
withdrawal facility.
- Income distributed on units of the scheme is exempted from
tax under Section 10(33) of I.T Act, in the hands of unit holders.
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Strategy of investment |
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Under normal circumstances the fund proposes to invest 90% of funds in high quality debt
and money market instruments with maturity of more than one year having low to medium risk
profile and the balance in debt instruments with maturity of less than a year having low
risk profile. |
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Comparative Analysis of similar other funds |
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| Name of the Fund |
NAV as on
31.05.2000 |
NAV as on
30.04.2000 |
NAV as on
31.03.2000 |
NAV as on
29.02.2000 |
NAV as on
31.01.2000 |
ING Income
Portfolio(Gr.) |
11.35 |
11.26 |
11.11 |
11.08 |
10.95 |
Kothari Pioneer
Income Builder
Account (Gr.) |
14.67 |
14.57 |
14.40 |
14.18 |
14.06 |
| Prudential
ICICI Income Plan (Gr.) |
12.72 |
12.66 |
12.44 |
12.45 |
12.24 |
| SUN F&C
Monthly Income (Gr.) |
10.22 |
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A careful observation of the above table reveals that the NAVs are growing
constantly. The recently opened SUN F&C Monthly Income plan also has NAV of 10.22,
which is higher than the face value of the unit. In the volatile market like ours, such
funds are preferred to the investors who are risk averse. Though the percentages of
returns are not equivalent to that of other tech or sector funds, one can relay upon the
steady growth |
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Risk Perception |
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As stated in the prospectus Grindlays Super Saver Income Fund is the first scheme being
launched by ANZ Grindlays Mutual Fund. The AMC ANZ Grindlays Asset Management Company (P)
Ltd. has no previous experience in managing a Mutual Fund. In the existing market scenario
experience in managing a mutual fund is definitely an added advantage. However since
investing in debt funds has less risk comparatively one can think of investing in this
scheme for long term benefits.
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