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Tuesday, November 11, 2014

Birla Sun Life Capital Protection Oriented Fund – Series 25 Floats On

NFO period is from 07 November to 21 November 2014

Birla Sun Life Mutual Fund has launched a new fund named as Birla Sun Life Capital Protection Oriented Fund – Series 25, a close ended capital protection oriented scheme. The tenure of the scheme is 1226 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 07 November and close on 21 November 2014. 

The investment objective of the scheme is to seek capital protection on maturity by investing in fixed income securities maturing on or before the tenure of the scheme and seeking capital appreciation by investing in equity and equity related instruments.
The scheme offers two options viz. growth and dividend option. 

The scheme would allocate 70% to 100% of assets in debt & money market instruments with low to medium risk profile and upto 30% in options premium with high risk profile, but limited to the premium paid. The option premium shall be for the purpose of exposure to derivative instruments which shall be restricted to long call options. The option premium offers the actual equity market exposure. However, the cumulative gross exposure through debt and options premium shall not exceed 100% of the net assets of the scheme. For this exposure, cash or cash equivalents with residual maturity of less than 91 days may be treated as not creating any exposure. 

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 MIP Blended Index. 

The fund managers of the scheme will be Prasad Dhonde and Ajay Garg. 
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