MASTER MIND FINNASSET: Birla Sun Life Fixed Term Plan – Series FZ Floats On

Wednesday, September 26, 2012

Birla Sun Life Fixed Term Plan – Series FZ Floats On

NFO Period from 27 September to 8 October 2012

Birla Sun Life Mutual Fund has launched a new fund named as Birla Sun Life Fixed Term Plan – Series FZ, a close ended income scheme with the duration of 1093 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 27 September and will close on 8 October 2012.

The investment objective of the scheme is to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme.

The scheme shall offer two options i.e. dividend and growth option. Further, dividend option shall have only payout facility. Default option will be growth.

The scheme would allocate 70% to 100% of assets in debt securities with low to medium risk profile, upto 30% in money market instruments with low to medium risk profile and upto 30% of assets in Government Securities with low risk profile.

Upto 5% of assets would be invested in A1 rated certificate of deposits, upto 5% in A1 rated commercial papers, 70% to 75% in AAA rated non convertible debentures and 25% to 30% in AA rated non convertible debentures.

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

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.

Entry and exit load charge will be nil.

Benchmark Index for the scheme is CRISIL Short Term Bond Fund Index.

The fund manager of the scheme will be Kaustubh Gupta.

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