Dividends announced in Birla Sun Life Basic Industries Fund and Birla Sun Life Infrastructure Fund
Birla Sun Life Mutual fund has announced dividends in two of its flagship equity schemes reflecting the good performance registered by the schemes.
Birla Sun Life Mutual Fund has declared 50.00% dividend in the Birla Sun Life Basic Industries Fund - dividend option. The record date for this would be Tuesday, June 23, 2009. A dividend of 10.00% has also been declared in the Birla Sun Life Infrastructure Fund Plan A – Dividend option on the same date.
“We have progressively deployed cash and hence our equity schemes have been able to gain from the recent market pick up.” Mr. Anil Kumar, CEO, Birla Sun Life Mutual Fund said.
Birla Sun Life Basic Industries is a multi-sector, open-ended growth scheme with a focus on investing in companies sensitive to economic cycles and commodity pricing cycles. Since its inception in January 2000, the scheme has returned 23 %* against its benchmark BSE 200, which returned 11.45%* during the same period.
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Birla Sun Life Infrastructure Fund is an open-ended growth oriented scheme which predominantly invests in a diversified portfolio of equity and equity related securities of companies that are participating in the growth and development of Infrastructure in India. Since its inception in March 2006, the fund has returned 9.52%* against its benchmark S&P CNX Nifty which returned 8.73 %* during the same period.
* Returns are CAGR, as on May 31st 2009
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 47096 crores as on March 31, 2009 and a market share of 9.5%. An impressive mix of reach through 116 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 2.15 Million investors. Known for its consistent performance, BSLAMC, has received recognition from various institutes of international repute like the CRISIL, Asian investor 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 Group
A US $29.2 billion corporation, the Aditya Birla Group is in the league of Fortune 500 worldwide. It is anchored by an extraordinary force of 100,000 employees, belonging to 25 different nationalities. The group operates in 25 countries across six continents – truly India's first multinational corporation. Aditya Birla Group through Aditya Birla Financial Services Group (ABFSG), has a strong presence across various financial services verticals that include life insurance, fund management, distribution & wealth management, securities based lending, insurance broking, private equity and retail broking. In FY 2008-09, the consolidated revenues of ABFSG from these businesses crossed Rs. 4763 crs, registering a growth rate of 36%.
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 December 31, 2008, the Sun Life Financial group of companies had total assets under management of $381 billion globally.
