AIG India Equity Fund (AIEF)
The fund is looking to achieve capital growth by investing in companies listed on Indian stock exchanges. The fund was launched in May 2007 and was the maiden equity fund in India by AIG Global Investment group. It is a sub fund of AIG Global Funds, Irish domiciled umbrella fund. This is one of the two most successful mutual funds from AIG Investments, the other being AIG Infrastructure and Economic Reform Fund or AIERF.
It is an open ended type of fund with biases. The fund invests in stocks across all large, middle and small market caps. It gave 105.50 % returns in one year period. The fund has no biases towards any investment style, sectors or market cap, thereby giving it the flexibility to chase opportunities across the market range. They have a bottom-up investment strategy and invest in thoroughly researched companies. They look for high quality, strong companies.
- Investment objective: to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity-related securities including equity derivatives.
- Plans: Regular and Institutional plan
- Scheme options: Growth and Dividend payout and re- investment
- Benchmark Index: BSE 100 index
- Asset allocation: 80%-100% is the range of allocation of its assets in equity and related instruments. Its debt allocation can go up to 20 %, which means it can invest up to 20% of assets in debt and money market instruments.
- Terms of issue:
-For lump sum, minimum application amount is Rs. 5000
-For SIP and STP, the minimum installment amount is Rs. 1000
- Loads: Entry load- 0 %; Exit load- 1 %, if redeemed within 1 year from the date of allotment
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