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NFO Update: Aditya Birla Sun Life Mutual Fund launches conglomerate fund

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Surbhi Khanna

, ET OnlineLast Updated: Nov 29, 2024, 02:24:00 PM IST

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Aditya Birla Sun Life Mutual Fund has launched the Aditya Birla Sun Life Conglomerate Fund, an open-ended diversified equity scheme focused on conglomerate-themed investments. The NFO opens on Dec 5 and closes on Dec 19, with continuous sale and repurchase options post-allotment. The fund aims for long-term capital appreciation by investing in the equity of conglomerate-themed companies and will be benchmarked against the BSE Select Business Groups Index.

NFO Update: Aditya Birla Sun Life Mutual Fund launches conglomerate fund

Aditya Birla Sun Life Mutual Fund has announced the launch of the Aditya Birla Sun Life Conglomerate Fund, an open-ended diversified equity scheme following the conglomerate theme.

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The New Fund Offer (NFO) of the scheme will open for subscription on December 5 and close on December 19. The scheme will reopen for continuous sale and repurchase within five business days from the date of allotment.

The scheme's investment objective is to achieve long-term capital appreciation by investing in equity and equity-related securities of companies that follow a conglomerate theme. The scheme will be benchmarked against the BSE Select Business Groups Index and will be managed by Harish Krishnan and Kunal Sangoi.

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For redemption or switch-out of units on or before 90 days from the date of allotment, the exit load will be 0.50% of the applicable NAV. For redemption or switch-out of units after 90 days from the date of allotment, the exit load will be nil.

The minimum application amount for lump sum and monthly, weekly, or daily SIP will be Rs 100, and in multiples of Re 1 thereafter. The minimum redemption or switch-out amount is Re 1, and in multiples of Re 1 thereafter.

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In case of partial redemption, if the balance amount held in the unitholder’s folio/account under the plan/option of the scheme is less than Re 1, then the transaction will be treated as an "All Units" redemption, and the entire balance of available units in the folio/account of the unitholder shall be redeemed.

The scheme will allocate 80-100% in equity and equity-related instruments of companies forming part of the conglomerate theme, 0-20% in equity and equity-related instruments of companies outside the conglomerate theme, 0-20% in debt and money market instruments, and 0-10% in units issued by REITs & INVITs.

The scheme follows an active investment strategy. Its objective is to generate long-term capital appreciation by investing in equity and equity-related instruments of companies that are part of India's Top Conglomerates (TCI). Top conglomerates will be selected based on market capitalization.

The scheme will be suitable for investors seeking long-term capital appreciation and who wish to invest in equity and equity-related instruments of companies that follow conglomerate themes.