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Tuesday, January 13, 2015

Birla Sun Life Manufacturing Equity Fund Floats On

NFO period is from 13 January to 27January 2015

Birla Sun Life Mutual Fund has launched a new fund named as Birla Sun Life Manufacturing Equity Fund, an open ended manufacturing sector scheme. The tenure of the scheme is 1099 days from the date of allotment of units. The new fund offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 13 January and close on 27 January 2015. 

The primary investment objective of the Schemes is to generate long-term capital appreciation to unit holders from a portfolio that is invested predominantly in equity and equity related securities of companies engaged in manufacturing activity. 

The scheme offers two options viz. growth and dividend option with payout & reinvestment facility. 

The scheme would invest 80%-100% of assets in equity & equity related securities of manufacturing sector companies with high risk profile and invest upto 20% of assets in cash, money market & debt instruments with low risk profile. 

The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter. 

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

Entry load: Nil. 

Exit load:
For redemption / switch-out of units within 365 days from the date of allotment: 1.50% of applicable NAV. 

For redemption / switch-out of units after 365 days but within 540 days from the date of allotment: 1% of applicable NAV. 

For redemption/switch-out of units after 540 days from the date of allotment: Nil.
Benchmark Index for the scheme is S&P BSE 500. 

The fund manager of the scheme will be Anil Shah. 
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