Birla Sun Life Mutual Fund
has launched a new fund named as Birla Sun Life Fixed Term Plan - Series NM
(1135 days), a close ended income scheme.
The tenure of the scheme is 1135 days
from the date of allotment of units. The new fund offer (NFO) price for the
scheme is Rs. 10 per unit. The new issue will be open for subscription only on
02 March 2016.
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) and 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 Mr. Kaustubh Gupta.
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