Mumbai / Chennai, June , 2017: Birla Sun Life Asset Management Company Limited, a part of Aditya Birla Financial Services (ABFS), and investment manager for Birla Sun Life Mutual Fund (BSLMF), announced the launch of the Birla Sun Life Resurgent India Fund – Series 4, a close-ended Equity Scheme with tenure of 3.5 years from and including the date of allotment. The New Fund Offer (NFO) opens for subscription from June 23 – July 7, 2017 with price of units of the scheme at face value of Rs.10 per unit.
Speaking on the launch of the scheme, A. Balasubramanian, CEO, Birla Sun Life Asset Management Company Limited said, “We see GST implementation, coupled with demonetization contributing to India’s economic growth momentum and corporate profitability. We believe that while these will result in rerating for many companies, it will also prove to be a great investment opportunity for investors in certain sectors that will be major beneficiaries of this transition. Our NFO looks to provide investors a good opportunity to benefit from companies which stand to appreciate in the long run, and gain from the turnaround in the Indian economy over the 3.5-year horizon.”
Birla Sun Life Resurgent India Fund – Series 4 aims to generate capital appreciation by investing primarily in equity and equity-related securities (including options premium), that are likely to benefit from recovery in the Indian economy. The scheme will allocate around 80-100% of assets in equity and equity related securities, and 0-20% in money market and debt instruments. The endeavour of the Fund Manager will be to pick stocks across businesses or sectors which are more closely correlated to the Indian economic growth and could become potential leaders in their respective fields in the future. As part of the investment strategy, scheme will book profits at opportune moments to take advantage of the volatility in the market. The Scheme may also invest a small portion of its corpus in fixed income securities including money market instruments to manage its liquidity requirements.
The scheme will have Regular Plan and Direct Plan with a common portfolio and separate NAVs. Each of the Regular and Direct Plan under the scheme will have Growth Option, and Dividend Option with Payout and Sweep Facility. The Scheme is benchmarked against S&P BSE 200 and will be managed by Jayesh Gandhi, Senior Portfolio Fund Manager, Birla Sun Life Asset Management Company Limited.
The AMC will calculate and disclose the first NAV(s) of the scheme not later than 5 (five) Business days from the date of allotment. Thereafter the NAVs of the scheme will be calculated and disclosed for every Business Day. No redemption or repurchase will be permitted prior to maturity of the Scheme. The scheme will be listed on NSE / BSE and/or any other recognized stock exchanges as may be decided by AMC from time to time and the Unitholders who wish to redeem units may do so through Stock Exchange at prevailing listed price on such Stock Exchange.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
About Birla Sun Life Asset Management Company Limited
Established in 1994, Birla Sun Life Asset Management Company Limited (BSLAMC), investment manager for Birla Sun Life Mutual Fund, is a joint venture between the Aditya Birla Group and Sun Life Financial Inc, a leading international financial services organisation from Canada. Birla Sun Life Mutual Fund is the fourth largest Fund house in India based on domestic average assets under management as published by AMFI for the quarter ended March 31, 2017. An impressive mix of reach, a wide range of product offerings across equity, debt, balanced as well as structured asset classes and sound investment performance has helped the company garner over 3.9 million investor scheme accounts as of March 31, 2017. BSLAMC offers investors a range of comprehensive investment options, which includes diversified and sector specific equity schemes, hybrid funds and a wide range of debt and treasury products. Its offerings also include Portfolio Advisory Services for High Net worth Individuals as well as offshore funds for Non-Resident Indians. Company Information: Birla Sun Life Asset Management Company Limited (Investment Manager for Birla Sun Life Mutual Fund)One India Bulls Centre, Tower 1, 17th Floor, Jupiter Mill Compound, 841, S.B. Marg, Elphinstone Road, Mumbai – 400 013. Tel.: 4356 8000. Website: www.birlasunlife.com CIN: U65991MH1994PLC080811
About Aditya Birla Financial Services
Aditya Birla Financial Services (ABFS) ranks among the top 5 fund managers in India (excluding LIC) with an AUM of INR 246,759 Crore as on March 31st, 2017 and has a lending book of Rs 38,839 Crore. Having a strong presence across the life insurance, asset management, private equity, corporate lending, structured finance, general insurance broking, wealth management, equity/currency/commodity broking, online personal finance, housing finance, pension fund management and health insurance business, ABFS is committed to serving the end-to-end financial services needs of its retail and corporate customers. As on March 31st, 2017, ABFS reported aggregate revenue from businesses at Rs. 10,341 Crores and profit before tax from established businesses Rs. 1,374 Crore. Anchored by about 12,000 employees and trusted by nearly 14 million customers, ABFS has a nationwide reach through over 1,300 points of presence and more than 142,000 agents / channel partners. For more information, please visit www.abfsg.com.
About Aditya Birla Nuvo Ltd.
Aditya Birla Nuvo is a conglomerate having leadership position across its businesses. Its Financial Services business (including NBFC, Housing Finance, Life Insurance, Asset Management, Health Insurance, General Insurance Advisory, Private Equity, Broking, Wealth Management and Online Money Management) ranks among the top 5 fund managers in India. Its Telecom venture, Idea Cellular, ranks among the top 3 cellular operators in India. It is a leading player in Linen, Agri, Rayon and Insulators businesses. ABNL has recently ventured into the Solar Power business. ABNL has also received a Payments Bank license from RBI, in joint venture with Idea Cellular, and is targeting to launch operations in the second quarter of FY2017-18 post requisite approvals. Aditya Birla Nuvo is a part of the Aditya Birla Group, a USD 41 billion Indian multinational. The Aditya Birla Group is in the league of Fortune 500. Anchored by an extraordinary force of over 120,000 employees, belonging to 42 nationalities, the Aditya Birla Group operates in 36 countries across the globe. About 50 per cent of its revenues flow from its overseas operations.
About Sun Life Financial Inc, Canada
Sun Life Financial is a leading international financial services organization providing a diverse range of insurance, wealth and asset management solutions to individuals and corporate Clients. Sun Life Financial has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2017, Sun Life Financial had total assets under management of $927 billion. For more information please visit www.sunlife.com Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.