Birla Sun Life MF launches Banking and Financial Services Fund

NFO Period from November 25 – December 9, 2013

November 25, 2013 4:06 IST | India Infoline News Service
Birla Sun Life Asset Management Company Limited, a part of Aditya Birla Financial Services Group (ABFSG), and investment manager for Birla Sun Life Mutual Fund (BSLMF), announced the launch of the Birla Sun Life Banking and Financial Services Fund, an open ended scheme focused on the Indian Banking and Financial Services Sector.

The primary investment objective of the Scheme is to generate long-term capital appreciation to unit holders from a portfolio that is invested in equity and equity related securities of companies engaged in banking and financial services.

The fund’s investment portfolio will concentrate in companies engaged in Banking and Financial Services (BFS). This includes Banks as well as Non-banking Financial Services companies, Insurance companies, Rating agencies, Broking companies, Microfinance companies, Housing Finance and Wealth Management companies among others.

The New Fund Offer Period opens on November 25, 2013 and is open till December 9, 2013. The New Fund Offer price of Units of the scheme will be Rs. 10 per Unit. The minimum amount that investors can invest in this fund is Rs. 5,000/- and in multiples of Rs. 1/- thereafter during the New Fund Offer period.

Speaking on the launch of the fund, A. Balasubramanian, CEO, Birla Sun Life Asset Management Company said, “The Banking and NBFC space has witnessed a steady growth since the last decade. Over the years, the sector is seen as a proxy to the economy, and delivered higher than proportionate market returns. We believe that the sector has potential to deliver high performance over a business cycle, which is something investors can benefit from over the long term.”

As on October 31, 2013, CNX Finance has given compounded returns of 17.3% as against 12.9% given by Nifty. This effectively means it has outperformed Nifty by 34% for the said period.

The fund, which will be benchmarked to the performance of CNX Finance, will have Regular Plan and Direct Plan with a common portfolio and separate NAVs.

FREE Benefits Worth 5,000



Open Demat Account
  • 0

    Per Order for ETF & Mutual Funds Brokerage

  • 20

    Per Order for Delivery, Intraday, F&O, Currency & Commodity