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Saturday, February 06, 2010

Birla Sun Life MF Launches Capital Protection Oriented Fund

NFO Period from 5 February to 5 March 2010 

Birla Sun Life Mutual Fund has launched a new fund named as Birla Sun Life Capital Protection Oriented Fund – Series 1, a close ended capital protection oriented scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue is open for subscription from 5 February and closes on 5 March 2010.

The investment objective of the scheme is to seek capital protection by investing in high quality fixed income securities maturing in line with the tenure of the scheme and seeking capital appreciation by investing in equity and equity related instruments.

The scheme will have duration of 27 months from the date of allotment of units.

The Scheme offers growth option.

The scheme would allocate 80% to 100% of assets in debt securities and money market instruments with low to medium risk profile. It would further invest up to 20% of assets in equity and equity related instruments with high risk profile. Money Market Instruments include commercial papers, commercial bills, treasury bills, and Government securities having an unexpired maturity up to one year, call or notice money, certificate of deposit, usance bills, CBLOs and any other like instruments as specified by the Reserve Bank of India from time to time.

The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter.

The fund seeks to collect a minimum subscription amount of Rs 10 crore under the scheme during the NFO period.

Entry and exit load charge for the scheme will be nil. No redemption/repurchase of units shall be allowed prior to the maturity of the scheme. Investors wishing to exit may do so through stock exchange mode.

Benchmark Index for the scheme will be CRISIL MIP Blended Index.

The fund manager for the scheme will be Satyabrata Mohanty.
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