MUMBAI: Sundaram Mutual on Thursday announced the opening of the Sundaram Global Brand Fund, formerly known as Sundaram Global Advantage Fund for subscription.
This is a fund of fund scheme, which will invest as a feeder fund into the Sundaram Global Brand Fund, Singapore, launched and managed since June 2015 by Sundaram Asset Management Pte Ltd Singapore, a wholly-owned subsidiary of Sundaram Asset Management.
“We had an existing fund of funds. We have changed that to a feeder fund,” Sunil Subramaniam, MD & CEO, Sundaram Mutual Fund.
“We aim to select brands and not stocks. We go by the brand rating agencies. Apart from financial strength, we see brand loyalty as well,” he added.
The fund has a 30-stock portfolio and the current top 10 holdings are Apple, Amazon, McDonalds, Walt Disney, Coca Cola, Procter & Gamble, Microsoft, Alphabet, IBM and Toyota Motor.
Subramaniam said the fund house wanted to give an opportunity of global exposure to its current investors.
“Around 60 per cent of the market cap is in the US, while the rest is elsewhere,” he said, adding that these companies are also taking a pie of Indian growth story as well.
Source: Economic Times