Shriram Asset Management Company Share price

The Company was incorporated on July 27 1994 at Bombay for the management of the funds of the Shriram Mutual Fund. The company was appointed as Fund Manager for all schemes to be floated by the Shriram Mutual Fund by an Investment Agreement dated September 16 1994.The main terms & conditions are as under:1. Shriram Mutual Fund appoints the Company to act as manager of the Trust Fund.2. Duties of the company shall include framing and launching of scheme on behalf of Shriram MF approval of SEBI with respect to any scheme manage investment and reinvestment of Trust Fund issue and administer instructions to the custodian stock brokers agents bankers registrars etc. Enter into contracts agreements open and operate bank accounts calculate net asset value etc.3. The Company is entitled to charge mutual funds the following fees:a) 1.25% of the weekly average net assets outstanding in each accounting year from the scheme concerned as long as the net asset to not exceed Rs. 100 crores.b) 1% of the excess amount of Rs. 100 crores where the net asset calculated exceeds Rs. 100 crores.4. Shriram MF may terminate the appointment of the company by giving notice in writing in the event of-a) appointment can be terminated by majority of the trustee or by 75% of the unitholders of the scheme.b) The Company goes into liquidation.c) The Company commits material breach of obligations under this agreements.The Company has already launched its first scheme o behalf of the Shriram Mutual Fund. The Scheme which opened on December 27 1994 was the First Tax Saving Scheme floated in the private sector. The scheme has been closed successfully on March 31 1995.PRESENT BUSINESS OF THE COMPANYThe company has launched for Shriram Mutual Fund a closed ended Tax Savings Scheme under the name of "Tax Guardian 95" which was closed for subscription on March 31 1995.The Company is also in the business of Exchange of Research and Analysis on a commercial basis.Relevant Documents have been filed with SEBI for launching the Nihon Emerging Market Guardian Fund for US Dollars 10 Million.SUBSIDIARY COMPANIESThe Company has no subsidiaries at present.