Birla Sun Life MF launches new open ended equity scheme
12/11/2014 11:00
Birla Sun Life Mutual Fund has launched a new open ended equity scheme named “Birla Sun Life Equity Savings Fund”. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on November 11 and will close on November 25. According to the offer document filed with SEBI, the entry load is nil, while exit load of 1.5 per cent will be charged if the scheme is redeemed within 365 days of allotment or 0.5 per cent of exit load will be charged if the scheme is redeemed between 365 to 540 days of allotment. However, after 540 days exit load charge will not be applicable. The minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter. The option available under the plan of the scheme are Growth and Dividend options. The performance of the scheme will be benchmarked against S&P BSE 200 to the extent of 30 per cent of portfolio, Crisil Short Term Bond Fund Index to the extent of 30 per cent of the portfolio and Crisil Liquid Fund Index to the extent of 40 per cent of portfolio. Satyabrata Mohanty and Prasad Dhonde will be the Fund Managers of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to provide capital appreciation and income distribution will be met by investing in a portfolio of equity & equity related instruments including derivatives and debt & money market Instruments (including margin for derivatives). Hence, the scheme will allocate 65 to 80 per cent of asset in equity & equity related instruments including derivatives and 20 to 35 per cent of asset in debt & money market Instruments (including margin for derivatives).
12/11/2014 11:00
Birla Sun Life Mutual Fund has launched a new open ended equity scheme named “Birla Sun Life Equity Savings Fund”. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on November 11 and will close on November 25. According to the offer document filed with SEBI, the entry load is nil, while exit load of 1.5 per cent will be charged if the scheme is redeemed within 365 days of allotment or 0.5 per cent of exit load will be charged if the scheme is redeemed between 365 to 540 days of allotment. However, after 540 days exit load charge will not be applicable. The minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter. The option available under the plan of the scheme are Growth and Dividend options. The performance of the scheme will be benchmarked against S&P BSE 200 to the extent of 30 per cent of portfolio, Crisil Short Term Bond Fund Index to the extent of 30 per cent of the portfolio and Crisil Liquid Fund Index to the extent of 40 per cent of portfolio. Satyabrata Mohanty and Prasad Dhonde will be the Fund Managers of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to provide capital appreciation and income distribution will be met by investing in a portfolio of equity & equity related instruments including derivatives and debt & money market Instruments (including margin for derivatives). Hence, the scheme will allocate 65 to 80 per cent of asset in equity & equity related instruments including derivatives and 20 to 35 per cent of asset in debt & money market Instruments (including margin for derivatives).
