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Wednesday, July 14, 2010

Birla Sun Life MF files offer document with Sebi

Plans to launch Birla Sun Life Capital Protection Oriented Fund - Series 7 to 9 

Birla Sun Life Mutual Fund has filed offer document with Sebi to launch Birla Sun Life Capital Protection Oriented Fund - Series 7 to 9, a close ended Capital Protection Oriented scheme. The scheme has been rated mfAAA (so) by Crisil. The assigned rating is valid only for Birla Sun Life Capital Protection Oriented Fund - Series 7 and Series 9. The rating only indicates highest degree of certainty regarding payment of face value of investment (excluding entry load charged, if any) to the unit holders on maturity is not an opinion on the stability of the scheme's NAV before its maturity date. The scheme will offer units of Rs. 10 each for cash (subject to applicable load) during the New Fund Offer. 

Investment Objective: 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 

Options: The scheme shall have Growth Option only. 

Minimum Application Amount: Minimum of Rs. 5,000 and in multiples of Rs. 10 thereafter during the New Fund Offer period. 

Benchmark Index: Crisil MIP Blended Index 

Load Structure: No entry and exit load 

The scheme will invest 80-100% in debt securities and money market instruments. Money Market Instruments include commercial papers, commercial bills, treasury bills, and Government securities having an unexpired maturity upto 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 scheme shall also invest 0-20% in equity and equity related instruments. 

The minimum subscription (target) amount under the Scheme shall be Rs. 10,00,00,000 during the New Fund Offer Period. 

Mr. Satyabrata Mohanty would be the designated fund manager of the scheme.
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