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Saturday, August 28, 2010

Birla Sun Life Nifty ETF files offer document with Sebi

An open ended, Index Linked, Exchange Traded Fund 

Birla Sun Life Mutual Fund has filed offer document with Sebi to launch Birla Sun Life Nifty ETF, an open ended, Index Linked, Exchange Traded Fund. The NFO price will be Rs 10 per unit. 

Investment Objective: The investment objective of the scheme is to provide returns that closely correspond to the total returns of securities as represented by S&P CNX Nifty, subject to tracking errors. 

Plans/Options: The scheme will have Growth Plan only. 

Minimum Application Amount: Minimum of Rs. 5,000 and in multiples of Rs. 1000 thereafter per application. 

Minimum Target Amount: The minimum subscription (target) amount under the scheme shall be Rs. 10,00,00,000 during the New Fund Offer Period. 

Asset Allocation: The scheme will invest 90-100% in securities comprising of underlying benchmark index. The scheme may also invest upto 10% in debt 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. 

Benchmark: S&P CNX Nifty. 

Load Structure: Nil 

Fund Manager: Mr. Satyabrata Mohanty.
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