Birla Sun Life Mutual Fund has launched a new close ended income scheme named "Birla Sun Life Fixed Term Plan - Series LH (732 days)" with maturity period of 732 days from the date of allotment.
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 CRISIL Short Term Bond Fund Index. Kaustubh Gupta 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 income will be met by investing in a portfolio of debt securities (excluding money market instruments), money market instruments and government securities. Hence, the scheme will allocate 70 to 100 per cent of asset in debt securities (excluding money market instruments), 0 to 30 per cent of asset in money market instruments and 0 to 30 per cent of asset in government securities.
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