Birla Sun Life Mutual Fund (MF) has launched a new fund named as Birla Sun Life MF Fixed Term Plan - Series MS (1110 days), a close ended income scheme.
The tenure of the scheme is 1110 days from the date of allotment of units. The new fund offer (NFO) price for the scheme is Rs 10 per unit.
The new NFO issue will be open for subscription from 17 June and close on 18 June 2015.
The investment objective of the scheme is to seek to generate income by investing in a portfolio of fixed income securities maturing on or / before the duration of the scheme.
The scheme offers two options viz. growth and dividend option with Normal Dividend sub-option (Payout Facility) & Quarterly Dividend sub-option (Payout Facility).
The scheme would invest 80% to 100% of assets in debt securities (excluding money market instruments), invest upto 20% of assets in money market instruments with low to medium risk profile and invest upto 20% of assets in government securities with low risk profile.
The minimum application amount is Rs. 5,000
Entry & exit load charge will be nil.
Benchmark Index for the scheme is CRISIL Composite Bond Fund Index.
The fund manager of the scheme will be Kaustubh Gupta.
More details
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