Birla Sun Life MF launches "Birla Sun Life Emerging Leaders Fund - Series 1"; NFO to close on April 30

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Birla Sun Life MF launches
Birla Sun Life Mutual Fund has launched a new close ended equity scheme named "Birla Sun Life Emerging Leaders Fund - Series 1" with maturity period of 3 years from the date of allotment.

The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription today and will close on April 30.

According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode.

The minimum application amount is Rs 5000 and in multiples of Rs 10 thereafter. The options available under the Plan of the Scheme are Growth and Dividend option. The performance of the scheme will be benchmarked against S&P BSE Midcap Index. Hitesh Zaveri will be the Fund Manager of the scheme.

The asset allocation of scheme will be in such a way that the objective of the scheme to generate long-term capital appreciation will be met by investing in a portfolio of equity and equity related securities and cash, money market & debt instruments. Hence, the scheme will allocate 80 to 100 per cent of asset in equity and equity related securities and 0 to 20 per cent of asset in cash, money market & debt instruments.

Dion Global Solutions Ltd.

Story first published: Friday, April 25, 2014, 12:26 [IST]
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