Birla Sun Life Asset
Management Company Limited, a part of Aditya Birla Financial Services Group
(ABFSG), and investment manager for Birla Sun Life Mutual Fund (BSLMF), has
raised close to Rs. 89 crores under its New Fund Offers – Birla Sun Life
Focused Equity Fund Series 1 and Series 2. These funds saw interest from over
7,500 investors, of which nearly 45% were new to BSLMF.
Speaking on the
success of the new fund offers, Mr. A. Balasubramanian, CEO, Birla Sun Life
AMC said, “Our experience with the RGESS eligible NFOs has been very
encouraging. True to the purpose of RGESS, the response we have received is a
welcome sign of interest in equity mutual funds from the retail investor. As a
fund house, the focus of our investment philosophy remains on people,
processes, and product to ensure true-to-label fund management and delivery of consistency
in experience to our investors. We look forward to provide our investors with
sharp product propositions offering them good avenues for wealth creation.”
 |
| Mr. A. Balasubramanian, CEO, Birla Sun Life AMC |
Birla Sun Life
Focused Equity Fund Series 1 and Series 2 are close-ended Equity Schemes investing
in Eligible Securities as per Rajiv Gandhi Equity Savings Scheme, 2013. Both
funds invest in equity securities specified as ‘eligible securities’ under the
RGESS guidelines which include equity shares of (a) companies falling in list
of BSE 100 and CNX 100 and (b) PSUs which are categorized as Navratna,
Maharatna or Miniratna by the Central Government. The additional Tax benefit
u/s 80 CCG, with a higher income eligibility of upto Rs. 12 Lakhs per annum
offered by these funds make them a meaningful opportunity for first-time
investors.
The fund house has
met with similar success in their previous equity NFO - Birla Sun Life Banking
and Financial Services Fund launched in November 2013 as proxy to the Indian
economic growth. The fund raised close to Rs. 165 crores through over 22,000
investors, over 7400 of who were new to BSLMF. The suitability of BSLMF’s new
product offerings have helped the house strategically build Equity portfolio.
Mutual Fund
investments are subject to market risks, read all scheme related documents
carefully.
The information on
taxation is provided for general information only. In view of the individual
nature of tax implications, investors are requested to consult their tax
advisors for the RGESS related and other tax implications before investing in
the Scheme.
It is to be
distinctly understood that the permission given by Bombay Stock Exchange Ltd.
should not in any way be deemed or construed that the Scheme Information
Document has been cleared or approved by Bombay Stock Exchange Ltd. nor does it
certify the correctness or completeness of any of the contents of the Scheme
Information Document. The investors are advised to refer to the Scheme
Information Document for the full text of the 'Disclaimer Clause of Bombay
Stock Exchange Ltd.'.
It is to be distinctly understood that the
permission given by National Stock Exchange of India Limited (NSE) should not
in any way be deemed or construed that the Scheme Information Document has been
cleared or approved by NSE nor does it certify the correctness or completeness
of any of the contents of the Draft Scheme Information Document. The investors
are advised to refer to the Scheme Information Document for the full text of
the 'Disclaimer Clause of NSE'
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 4th largest Fund
house in India based on domestic average assets under management as published
by AMFI for the quarter ended March 31, 2014. An impressive mix of reach
through 109 branches, a wide range of product offerings across equity, debt,
balanced as well as structured asset classes and strong investment performance
has helped the company garner close to 2 million investor scheme accounts (as
of March 31, 2014).
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 Group
Aditya Birla
Financial Services Group (ABFSG) ranks among the top 5 fund managers in India
(excluding banks and LIC) with an AUM of ~ $ 19.86 billion. Having a strong
presence across the life insurance, asset management, NBFC, private equity,
retail broking, distribution & wealth management, and general insurance
broking businesses, ABFSG is committed to serve the end-to-end financial
services needs of its retail and corporate customers.
The seven companies
representing ABFSG are: Birla Sun Life Insurance Company Ltd., Birla Sun Life
Asset Management Company Ltd., Aditya Birla Finance Ltd., Aditya Birla Capital
Advisors Pvt. Ltd., Aditya Birla Money Ltd., Aditya Birla Money Mart Ltd. and
Aditya Birla Insurance Brokers Ltd. In FY 2012-13, ABFSG reported consolidated
revenue from these businesses at `6,390 Crores (1.17 billion) and earnings
before tax at `761 Crores. Anchored by about 14,200 employees and trusted by
about 5.3 million customers, ABFSG has a nationwide reach through more than
1,550 points of presence and about 1,60,000 agents/channel partners.
About Aditya Birla
Nuvo Limited..
Aditya Birla Nuvo is
a USD 4.75 billion conglomerate. Over the years, it has successfully ventured
into the service sectors viz., Financial Services (Life Insurance, Asset
Management, NBFC, Private Equity, Broking, Wealth Management and general
insurance advisory), Fashion & Lifestyle, Telecom, and IT-ITeS. Its razor
sharp focus on manufacturing businesses has made it a leading player in the
Agri, Rayon and Insulators sectors.
About Sun Life
Financial..
Sun Life Financial is
a leading international financial services organization providing a diverse
range of protection and wealth products and services to individuals and
corporate customers.
Sun Life Financial
and its partners have operations in key 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 December 31, 2013, the Sun Life Financial group of companies had
total assets under management of Canadian $ 64000 crore.
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.
For Media Contact
Snigdha Nandan, Chief
Manager - PR & Corporate Communications,
Birla Sun Life Asset Management Company
One Indiabulls
Centre, Tower-1, 17th floor,
Jupiter Mill
Compound, 841,
S.B. Marg, Elphinstone
Road, Mumbai 400 013
Tel: +91 22 4356 8155
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