The objective of this Plan is to generate returns that are commensurate with the performance of the SENSEX, subject to tracking errors.
Basic Scheme Information
|Nature of Scheme
||Open Ended Index Linked Scheme |
||July 17, 2002|
Existing Plan : Growth Plan.
Direct Plan (w.e.f. 01 Jan 2013) : Growth Option.
(For Lumpsum Purchases and investments through SIP/STP)
Unfront commission shall be paid directly by the investor to the ARN Holder (AMFI registered Distributor) based on the investors' assessment of various factors including the service rendered by the ARN Holder.
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(as a % of the Applicable NAV)
|In respect of each purchase / switch-in of Units, an Exit Load of 1.00% is payable if Units are redeemed/ switched-out within 30 days from the date of allotment. No Exit Load is payable if Units are redeemed / switched-out after 30 days from the date of allotment|
No Entry/ Exit Load shall be levied on bonus units
|Minimum Application Amount
(click here for SIP Details)
|For new investors :Rs.5000 and any amount thereafter.|
For existing investors : Rs. 1000 and any amount thereafter.
|Net Asset Value Periodicity
||Every Business Day.|
||Normally dispatched within 3-4 Business days|
(As per present Laws)
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|Current Expense Ratio (#)
(Effective Date 1st October 2012)
Excluding Service Tax on Investment Management Fees, if any.
Direct Plan shall have a lower expense ratio by 0.29%.
(#) Any change in the expense ratio will be updated within two working days.
|Sensex Plan (Growth) ||20 May 2013||169.0230|
|Direct Plan - Growth Option||20 May 2013||169.2190|
||Risk Profile of |
|Securities covered by the SENSEX
||95 to 100
||Medium to High|
|Cash & Money Market instruments, including money at call but excluding Subscription and Redemption Cash Flow
||0 to 5
||Low to Medium|
|Subscription Cash Flow is the subscription money in transit before deployment and Redemption Cash Flow is the money kept aside for meeting redemptions. |
The SENSEX Plan and the Nifty Plan will be managed passively with investments in stocks in a proportion that is as close as possible to the weightages of these stocks in the respective indices. The investment strategy would revolve around reducing the tracking error to the least possible through regular rebalancing of the portfolio, taking into account the change in weights of stocks in the indices as well as the incremental collections / redemptions from these Plans.
The SENSEX Plus Plan will be passively managed to the extent of 80-90% of the net assets of the Plan and would follow similar investment strategy as for the SENSEX and the Nifty Plan, for this component. The actively managed portion of 10-20% of net assets of the Plan would be invested in stocks that have been identified as having high probability to outperform the SENSEX. The Investment Manager would follow the process of in-depth research to identify such candidates from stocks other than those comprising the SENSEX, for potential investment.
Pursuant to the SEBI Regulations, the respective Plans shall not make any investment in:
- any unlisted security of an associate or group company of the Sponsor; or
- any security issued by way of private placement by an associate or group company of the Sponsor; or
- the listed securities of group companies of the Sponsor which is in excess of 25% of the net assets.
For the SENSEX Plan, the Nifty Plan and the proportion of the SENSEX Plus Plan that would be managed similar to the SENSEX Plan, risks would be the impact cost on securities, the delayed communication of weightage changes by the index service providers and the delayed calculation of net change in assets of each of the Plans, amongst others.
It is proposed to manage the risks by placing limit orders for basket trades and other trades, proactive follow-up with the service providers for daily change in weights in the respective indices as well as monitor daily inflows and outflows to and from the Fund closely.
While these measures are expected to mitigate the above risks to a large extent, there can be no assurance that these risks would be completely eliminated.
Risk control for the actively managed portion of the SENSEX Plus Plan would entail setting limits for single stock and single industry exposures by the Investment committee for this portion, subject to SEBI Regulations.
Mr. Vinay Kulkarni (since Nov 21, 06)
Portfolios - Holdings
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