Birla Sun Life MF launches ‘Birla Sun Life Manufacturing Equity
Fund’
16/01/2015 11:16
Birla Sun Life Mutual Fund has launched a new open ended manufacturing sector scheme named “Birla Sun Life Manufacturing Equity Fund”. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on January 13 and will close on January 27. According to the offer document filed with SEBI, the entry load is nil and the exit load will be charged 1.5 per cent of applicable NAV if redemption / switch-out of units will be within 365 days from the date of allotment, 1 per cent if redemption / switch-out of units after 365 days but within 540 days from the date of allotment and exit load will be nil if redemption / switch-out of units after 540 days from the date of allotment. The minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter during NFO period. The options available under the plan of the scheme are Growth and Dividend option. The performance of the scheme will be benchmarked against S&P BSE 500. Anil Shah will be the fund manager of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to generate long-term capital appreciation to unit holders will be met by investing in a portfolio of equity & equity related securities of manufacturing sector companies and cash, money market & debt instruments. Hence, the scheme will allocate 80 to 100 per cent of asset in equity & equity related securities of manufacturing sector companies, 0 to 20 per cent of asset in cash, money market & debt instruments.
16/01/2015 11:16
Birla Sun Life Mutual Fund has launched a new open ended manufacturing sector scheme named “Birla Sun Life Manufacturing Equity Fund”. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on January 13 and will close on January 27. According to the offer document filed with SEBI, the entry load is nil and the exit load will be charged 1.5 per cent of applicable NAV if redemption / switch-out of units will be within 365 days from the date of allotment, 1 per cent if redemption / switch-out of units after 365 days but within 540 days from the date of allotment and exit load will be nil if redemption / switch-out of units after 540 days from the date of allotment. The minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter during NFO period. The options available under the plan of the scheme are Growth and Dividend option. The performance of the scheme will be benchmarked against S&P BSE 500. Anil Shah will be the fund manager of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to generate long-term capital appreciation to unit holders will be met by investing in a portfolio of equity & equity related securities of manufacturing sector companies and cash, money market & debt instruments. Hence, the scheme will allocate 80 to 100 per cent of asset in equity & equity related securities of manufacturing sector companies, 0 to 20 per cent of asset in cash, money market & debt instruments.
