Birla Sun Life Asset Management Company Ltd, a part of Aditya Birla Financial Services Group (ABFSG) and investment manager for Birla Sun Life Mutual Fund (BSLMF), has announced the launch of the Birla Sun Life Resurgent India Fund – Series 3, a close-ended equity scheme with a tenure of 3.5 years from and including the date of allotment (a close ended equity scheme).
Birla Sun Life Asset Management Company Ltd, a part of Aditya Birla Financial Services Group (ABFSG) and investment manager for Birla Sun Life Mutual Fund (BSLMF), has announced the launch of the Birla Sun Life Resurgent India Fund – Series 3, a close-ended equity scheme with a tenure of 3.5 years from and including the date of allotment (a close ended equity scheme). The New Fund Offer (NFO) has opened for subscription from February 23 – March 9, 2017 with price of units of the scheme at face value of Rs 10 per unit.
Speaking on the launch of the scheme, A. Balasubramanian, CEO, Birla Sun Life Asset Management Company Limited said, “As the Indian economy surges to new heights, the government is working towards building a strong financial foundation through economic and administration reforms. We see this driving a new trend in the economy – a shift from the unorganized to the organized sector. Reforms such as demonetization, digitization, and the implementation of GST will add a strong tailwind for serious gains by companies in the organized sector. Our NFO looks to provide investors a good opportunity to benefit from companies which stand to appreciate in the long run, and gain from the turnaround in the Indian economy over the 3.5-year horizon.”
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Birla Sun Life Resurgent India Fund – Series 3 aims to generate capital appreciation by investing primarily in equity and equity-related securities that are likely to benefit from recovery in the Indian economy. The scheme will allocate around 80-100% of assets in equity and equity-related securities, and 0-20% in money market and debt instruments. The endeavour of the fund manager will be to pick stocks across businesses or sectors which are more closely correlated to the Indian economic growth and could become potential leaders in their respective fields in the future.
As part of the investment strategy, the scheme will book profits at opportune moments to take advantage of the volatility in the market. The scheme may also invest a small portion of its corpus in fixed income securities including money market instruments to manage its liquidity requirements.
The scheme will have Regular Plan and Direct Plan with a common portfolio and separate NAVs. Each of the Regular and Direct Plan under the scheme will have Growth Option, and Dividend Option with Payout and Sweep Facility. The scheme is benchmarked against S&P BSE 200 and will be managed by Satyabrata Mohanty, Senior Portfolio Manager, Birla Sun Life Asset Management Company Limited.
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The AMC will calculate and disclose the first NAV(s) of the scheme not later than 5 business days from the date of allotment. Thereafter the NAVs of the scheme will be calculated and disclosed for every business day. No redemption or repurchase will be permitted prior to maturity of the scheme. The scheme will be listed on NSE / BSE and/or any other recognized stock exchanges as may be decided by AMC from time to time and the unitholders who wish to redeem units may do so through a stock exchange at the prevailing listed price on such stock exchange.