Birla Sun Life MF launches new close ended scheme
11/03/2015 13:02
Birla Sun Life Mutual Fund has launched a new close ended capital protection oriented scheme named “Birla Sun Life Capital Protection Oriented Fund - Series 26” with maturity period of 1101 days from and including the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on March 11 and will close on March 25. According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will also be nil. This suggests that the investors wishing to exit may do so through the stock exchange mode. The minimum application amount is Rs 5,000 and in multiples of Rs 10 thereafter. The option available under the plan of the scheme is Growth option. The performance of the scheme will be benchmarked against CRISIL MIP Blended Index. Prasad Dhonde and Ajay Garg 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 provide capital appreciation linked to equity market with downside protection will be met by investing in a portfolio of debt securities and premium of exchange traded options. Hence, the scheme will allocate 70 to 100 per cent of asset in debt securities and money market instrument and 0 to 30 per cent of asset in options premium.
11/03/2015 13:02
Birla Sun Life Mutual Fund has launched a new close ended capital protection oriented scheme named “Birla Sun Life Capital Protection Oriented Fund - Series 26” with maturity period of 1101 days from and including the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription on March 11 and will close on March 25. According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will also be nil. This suggests that the investors wishing to exit may do so through the stock exchange mode. The minimum application amount is Rs 5,000 and in multiples of Rs 10 thereafter. The option available under the plan of the scheme is Growth option. The performance of the scheme will be benchmarked against CRISIL MIP Blended Index. Prasad Dhonde and Ajay Garg 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 provide capital appreciation linked to equity market with downside protection will be met by investing in a portfolio of debt securities and premium of exchange traded options. Hence, the scheme will allocate 70 to 100 per cent of asset in debt securities and money market instrument and 0 to 30 per cent of asset in options premium.
