Pune: Aditya Birla Sun Life AMC Limited (formerly known as Birla Sun Life Asset Management Company Ltd.), a subsidiary of Aditya Birla Capital Limited (formerly known as Aditya Birla Financial Services Ltd.), and investment manager to Aditya Birla Sun Life Mutual Fund (ABSLMF) announced the launch of the Aditya Birla Sun Life Resurgent India Fund – Series 5, a close-ended equity scheme with tenure of 3.5 years from and including the date of allotment. The New Fund Offer (NFO) opens for subscription from September 20 – October 4, 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, Aditya Birla Sun Life AMC Limited said, “We believe that a confluence of multiple factors – administrative and economic reforms, new initiatives and plans by the government and favourable macro environment, makes equities especially attractive over the next 3-5 years. With markets geared to deliver growth, our NFO invites investor participation in a focused portfolio of handpicked winners across sectors that will benefit the most from GST and the Government’s thrust on scaling India’s Infrastructure. It 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.”
Aditya Birla Sun Life Resurgent India Fund – Series 5 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(including options premium), 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, 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 Jayesh Gandhi, Senior Portfolio Fund Manager, Aditya Birla Sun Life Mutual Fund and Chanchal Khandelwal, Fund Manager, Aditya Birla Sun Life Mutual Fund.
The AMC will calculate and disclose the first NAV(s) of the scheme not later than 5 (five) 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 Stock Exchange at prevailing listed price on such Stock Exchange.
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