- New Fund Offer from BSLMF targets traditional investors
- Capital Protection with Growth
- Rated AAA(so) by CRISIL
- Subscription opens till 5th March 2010
Birla Sun Life Mutual Fund (BSLMF) has launched BSL Capital Protection Oriented Fund Series 1, which offers those investing in traditional investment options like fixed deposits, an attractive alternative. This is a 27-month close-ended fund which seeks capital protection by investing into high quality debt securities maturing in line with the tenure of the scheme and seeking capital appreciation by investing a part of the capital in equity market.
Mr. A Balasubramanian, CEO, BSLAMC, said, “Given that today investors in India have over Rs 37 lakh crores in FDs, BSL CPOF Series 1 offers us an opportunity to provide these Investors an alternative investment avenue. Investors with safety on their mind and with a time horizon of 2-3 years are our target audience”. “The fund intends to invest 90% of the capital on the debt side in high quality debt instruments. The rest 10% of the capital shall be invested in the equity side and shall comprise of high growth stocks. Basically, the fund offers investors an opportunity to invest a small portion of their portfolio in equity market with low risk,” he said
BSL CPOF Series 1, has been rated AAA (so) by CRISIL. The fund offers growth option only with minimum application amount of Rs 5,000 and multiples of Rs 10 thereafter during the new fund offer period. Non-Resident Indians (NRIs), Foreign Institutional Investors (FIIs) and Person of Indian Origins (PIOs) are eligible to invest in the scheme on a full repatriation basis. Benchmarked against CRISIL MIP Blended Index, the fund has no entry and exit load. It shall be open for subscription till 5th March 2010
The redemption of units shall be allowed only at the maturity of the scheme. However, the fund shall be listed on stock exchanges, and investors can buy sell units of the fund there.
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 and trusted name globally amongst Indian conglomerates 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 62,595 crores as on January 31, 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 2.3 Million investor scheme accounts. Known for its consistent performance, BSLAMC has received recognition from various institutes of international repute like the CRISIL, Asian investor Magazine, The Asset Magazine ICRA and Lipper. It is the only fund house in India to have won the coveted “Mutual Fund House of the Year” from CNBC TV 18 Crisil twice in a row.
About Aditya Birla Financial Services Group (ABFSG)
Aditya Birla Financial Services Group is a broad based and integrated player in the financial services space with a strong presence across verticals viz., life insurance, asset management, retail broking, distribution and wealth management, NBFC, insurance broking & advisory services and private equity. ABFSG is rapidly growing in line with its vision to be a leader and role model in the Indian financial services sector.
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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), Birla Sun Life Distribution Company, Aditya Birla Money, Birla Insurance Advisory & Broking Services and Aditya Birla Capital Advisors.
The consolidated revenues from these businesses crossed USD 1 billion mark in 2008-09. Today ABFSG collectively enjoys trust of over 4 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 1500 branches and over 2 lacs channel partners.
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.
AUM Source: AMFIindia.com
For further details please visit www.birlasunlife.com