Birla Sun Life Mutual Fund (BSLMF), one of the leading Mutual Fund companies in India has announced a dividend of 70 % in its flagship Equity Linked Saving Scheme, Birla Sun Life Tax Relief ‘96 (BSLTR’96). The scheme has been adjudged “the World’s Best-Performing Equity Fund” for the 13-year period ended September 30, 2009, according to Lipper global data.
BSLMF has also announced dividends in four other equity schemes. The record date for these dividends is 12th March 2010. The details are provided below -
After the payment of dividend, NAV will fall to the extent of the payout and statutory levy, if any. Past performance may or may not be sustained in the future. For scheme objectives please refer to the disclaimer below. For details on Lipper ranking please visit www.birlasunlife.com
About Birla Sun Life Asset Management Company
Established in 1994, Birla Sun Life Asset Management Company (BSLAMC) is a joint venture between Aditya Birla Group, a well known Indian conglomerate and Sun Life Financial Inc, leading international financial services organization from Canada.
BSLAMC is the 5th largest asset management company in India with an average asset under management of Rs 66,305 crores as on February 28, 2010. An impressive mix of reach through 106 branches, full range of product offerings across equity, debt, balanced & structured asset classes and strong investment performance has helped the Company garner over 2.4 Million investor scheme accounts. Known for its consistent performance, BSLAMC has received recognition from various institutes of international repute like the CRISIL, Lipper, Asian investor Magazine and The Asset Magazine- Hong Kong.
About Aditya Birla Financial Services Group (ABFSG) :
The Aditya Birla Financial Services Group (ABFSG) has a significance presence across various verticals, including life insurance, insurance broking, mutual funds, private equity, security based lending, factoring, insurance advisory services, retail broking and distribution of third party products.
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The seven companies representing Aditya Birla Financial Services Group are Birla Sun Life Insurance Company, Birla Sun Life Asset Management Company, Aditya Birla Money (erstwhile Apollo Sindhoori Capital Investments), Aditya Birla Money Mart (erstwhile Birla Sun Life Distribution Company), Aditya Birla Finance (erstwhile Birla Global Finance Company), Birla Insurance Advisory & Broking Services and Aditya Birla Capital Advisors.
The ABFSG is committed to being a leader and role model in a broad based and integrated financial services business. Its 7 business lines, with over 4.2 million customers manages assets over USD 16 billion and prides itself for having a talent pool of over 15,000 committed employees. ABFSG has its wings spread across more than 500 cities in India through over 1600 branches and over 2 lac channel partners. This pretty much allows ABFSG to offer its customers virtually anything other than a savings or current account. With over a billion dollar revenue, ABFSG is a significant non bank player and one of the few players who have a top 5 position in both life insurance and mutual funds.
ABFSG is a part of Aditya Birla Nuvo Limited (ABNL), a USD 3 billion conglomerate having leadership position across its manufacturing as well as services sector businesses. ABNL is a part of the Aditya Birla Group, a USD 29 billion Indian business house operating in 25 countries across the globe.
About Sun Life Financial Inc
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide. As of March 31, 2009, the Sun Life Financial group of companies had total assets under management of $375 billion globally.
Unitholders whose name appears in the Register of Unitholders on the record date shall be entitled to the dividend proposed under the said Schemes. The dividend declared shall be subject to availability of distributable surplus on the record date.
Statutory Details: Constitution: Birla Sun Life Mutual Fund has been set up as a Trust under the Indian Trust Act, 1882. Sponsors: Aditya Birla Nuvo Limited and Sun Life (India) AMC Investments Inc. [liability restricted to seed corpus of Rs. 1 Lac]. Trustee: Birla Sun Life Trustee Company Pvt. Ltd. Investment Manager: Birla Sun Life Asset Management Company Ltd. Scheme Classification & Objective: Birla Sun Life Tax Plan (BSLTP): (An Open ended Equity Linked Savings Scheme with the lock in period of 3 years) with the objective to achieve long term growth of capital along with income tax relief for investment. Birla Sun Life Tax Relief ’96 (BSLTR96): (An Open ended Equity Linked Savings Scheme with the lock in period of 3 years) with the objective of long term growth of capital through a portfolio with a target allocation of 80% equity, 20% debt and money market securities. Birla Sun Life ‘95 Fund (BSL95F): (An Open ended Balanced Scheme) with the objective to generate long term growth of capital and current income, through a portfolio with a target allocation of 60% equity and 40% debt and money market securities. The secondary objective is income generation and distribution of dividend. Birla Sun Life Equity Fund (BSLEF): (An Open ended Growth Scheme) with the objective of long term growth of capital, through a portfolio with a target allocation of 90% equity and 10% debt and money market securities. Birla Sun Life Top 100 Fund (BSL T100F): (An Open ended Growth Scheme) with the objective to provide medium to long-term capital appreciation, by investing predominantly in a diversified portfolio of equity and equity related securities of top 100 companies as measured by market capitalization. Load Structure for BSLTP, BSLTR96 (Incl. SIP): Entry Load: Nil. Exit Load: Nil. Load Structure for BSLEF, BSL95F (Incl. SIP): Entry Load: Nil. Exit Load: For redemption/switch-out of units within 365 days from the date of allotment: 1.00% of applicable NAV. For redemption/switch-out of units after 365 days from the date of allotment: Nil. Load Structure for BSL T100F (Incl. SIP): Entry Load: Nil. Exit Load: For redemption/switch-out of units within 7 days from the date of allotment: 0.50% of applicable NAV. For redemption/switch-out of units after 7 days from the date of allotment: Nil.
Risk Factors: Mutual Funds and securities investments are subject to market risks and there can be no assurance or guarantee that the objective of the Schemes will be achieved. As with any investment in securities, the NAV of the Units issued under the Schemes may go up or down depending on the various factors and forces affecting capital markets and money markets. Past performance of the Sponsors / Investment Manager / Mutual Fund does not indicate the future performance of the Schemes and may not necessarily provide a basis of comparison with other investments. The name of the Schemes does not, in any manner, indicate either the quality of the Schemes or their future prospects or returns. Unitholders in the Schemes are not being offered any guaranteed/assured returns. Investments in the schemes shall be subject to various risk factors including but not limited to risks associated with: investment in Equity and Equity related instruments, investments in derivatives, investments in foreign securities, investments in Fixed income Securities, investments in Securitised Debt assets, stock lending and borrowing, short selling etc. Tax deduction u/s 80C of the Income Tax Act, 1961 is subject to conditions specified therein. Please refer to Scheme Information Document for detailed scheme specific risk factors. Investors should read the Scheme Information Document/Statement of Additional Information/Key Information Memorandum available at Investor Service Centers and with Distributors carefully before investing.