Birla Sun Life Mutual Fund (BSLMF) has begun to offer its products to the investor fraternity, on the online mutual fund trading platform of both National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). This is landmark occasion for the Birla Mutual Fund on its 15th anniversary celebration month.
This facility will enable BSLMF customers to have great accessibility and convenience by multiplying the reach of the fund house. Not just that, investors with a demat account would be able to view their mutual fund investments along with other listed schemes in their portfolio and hence get a consolidated view of their portfolio.
Speaking on the occasion, A Balasubramanian, CEO of Birla Sun Life Mutual Fund said “This is big leap in investor convenience as well the geographical presence for the fund house. This would also provide great convenience to the Trading Member in the form of a new platform”. “BSLMF is celebrating the 15th foundation day this month with solemn commitment of continuing to serve our investors better and this is yet another step forward in that direction”, Mr. Balasubramanian said.
BSLMF schemes started trading on NSE since Thursday and on BSE since 4th December.
BSLMF, with an average AUM of over Rs. 69,600 crores as on 30th November 2009, is amongst the largest fund houses in India. This extension of subscription and redemptions through Stock Exchange platform is an initiative that shall help it reach new investors beyond the own branches that the fund house operates. National Stock Exchange has more than 1,50,000 terminals across 1500 towns and cities while BSE has 25,000 Trader Workstations located across over 359 cities in India.
Terminals of brokers will be the official point of acceptance and hence the date of acceptance of the transaction will be the date of entering the request on the terminal. Investors will also have the added advantage of obtaining the same day’s NAV (before 3 p.m.) at a large number of outlets i.e. more than 1500 towns and cities, including remote locations. The investors have an added advantage getting their units allotted in demat mode in addition to the existing physical mode as per their choice.
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 amongst the top 5 asset management companies in India with an average asset under management of Rs 69,631 crores as on November 30, 2009. 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 enjoy trust of over 2.3 Million investors. 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.
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, Birla Global Finance Company, 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 lakhs 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.
