Aditya Birla Sun Life AMC Ltd has launched a new fund scheme which will invest mainly in equity and equity-related securities.
The Aditya Birla Sun Life Resurgent India Fund Series 5, a close-ended equity scheme with tenure of 3.5 years, opened for subscription on September 20 and closes on October 4, the company said in a statement.
The fund aims to generate capital appreciation by investing primarily in equity and equity-related securities, that are likely to benefit from the recovery in the Indian economy, it said. 5 Best Performing Equity Mutual Funds In India
The scheme will allocate around 80-100 per cent of assets in equity and equity-related securities(including options premium), and 0-20 per cent in money market and debt instruments, the statement said.
Aditya Birla Sun Life AMC Ltd CEO A Balasubramanian said, "We believe that a confluence of multiple factors - administrative and economic reforms, new initiatives and plans by the government and favourable macro environment, makes equities especially attractive over the next 3-5 years."
The scheme looks to provide investors an opportunity to benefit from companies which stand to appreciate in the long run, and gain from the turnaround in the Indian economy over the 3.5-year horizon, Balasubramanian said.