Birla Sun Life Mutual Fund (MF) has launched a new fund named as Birla Sun Life MF Dual Advantage Fund - Series I, a close ended hybrid scheme.
The tenure of the
scheme is 1125 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 from 9 June and close on 20 June 2016.
The primary investment objective of the scheme is to generate income by
investing in a portfolio of fixed income securities maturing on or before the
maturity of the scheme. The secondary objective is to generate capital
appreciation by investing a portion of the scheme corpus in Equity and equity
related instruments.
The scheme offers two options viz. growth and dividend option (payout
facility) under both regular and direct plan.
The scheme would allocate 70% to 95% of assets in debt securities & money
market instruments with low to medium risk profile and invest 5% to 30% in equity
& equity related instruments (including options premium) with high risk
profile.
The minimum application amount is Rs. 5,000
Entry and exit load charge will be nil.
Benchmark Index for the scheme is mix of 80% Crisil Composite Bond Fund
Index & 20% CNX Nifty Index.
The fund managers of the scheme will be Prasad Dhonde (Debt), Ajay Garg and
Vineet Maloo (Equity).
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