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Business Standard

Sundaram MF to launch multi-factor fund; Crizac raises nearly ₹258 crore

Sundaram Mutual Fund (MF) on Tuesday announced the launch of a multi-factor fund which will follow a rule-based strategy to invest across factors — quality, growth, momentum, value and size. The scheme, which has a universe of 250 largest companies, will invest in top 25 stocks within each factor. 'The diversification across multiple factors and intuitive logic of rules followed by the fund makes it efficient and transparent for investors,' said Anand Radhakrishnan, managing director, Sundaram AMC. The fund, benchmarked against the BSE 200 TRI, will be managed by Rohit Seksaria. Crizac on Tuesday allotted shares worth ₹258 crore to anchor investors. It allotted 10.53 million shares at ₹245 apiece to Societe Generale, Pinebridge Global Funds, Shamyak Investment Private Limited (Enam Group), Aryabhata India Fund (Abaccus Group), ICICI Prudential MF, among others. The company's ₹860 crore initial public offering (IPO) — which is entirely an offer for sale by promoters Pinky Agarwal and Manish Agarwal — opens for subscription on Wednesday.