Birla Sun Life Mutual
Fund (MF), a part of Aditya Birla Financial Services Group, today said it has
garnered Rs. 781 crore through its manufacturing sector scheme.
The scheme--Birla Sun
Life manufacturing equity fund-- launched on 2015, January 13 is an open-ended
scheme focused to tap the key potential of the Indian manufacturing story.
As per the fund house,
the new scheme saw participation of
about 77,100 investors, of which about 36% are from B15 markets (beyond
top 15 cities).
 |
| Mr. A. Balasubramanian |
In a statement, Birla
Sun Life AMC said it "has raised Rs. 781 crore under its New Fund Offer
(NFO) - Birla Sun Life Manufacturing Equity Fund."
The scheme aims to
generate long-term capital appreciation by predominantly investing in equity
& equity related securities of companies engaged in manufacturing activity.
The performance of the
scheme will be benchmarked to the performance of S&P BSE 500.
"We see improvement
in Indian macro led by falling inflation driving reduction in interest rate;
this in turn boosting investment and confidence for increased capital investments
in the country.
"Our NFO presents
investors a diversified equity fund, which channels the growth in Indian
manufacturing for long-term wealth creation. The interest generated by our NFO
is a great sign of increasing interest from the retail investor to benefit from
the growth of the Indian economy," Birla Sun Life Asset Management Company
CEO Mr. A. Balasubramanian said.
With Rs. 1,07,968 crore
of average assets under management (AUM) at the end of December 2014, Birla Sun
Life is one of the leading fund house in the country.
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