Birla Sun Life Asset Management Company (BSLAMC) launched a close-ended equity scheme with a tenure of 3.5 years.
The product – Resurgent India Fund-Series 4 – is a close-ended equity scheme with a tenure of 3.5 years from and including the date of allotment, the company, a part of Aditya Birla Financial Services (ABFS), said.
BSLAMC is also the investment manager for Birla Sun Life Mutual Fund (BSLMF).
“Our NFO looks to provide investors a good 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,” A Balasubramanian, CEO, Birla Sun Life Asset Management Company, said.
The product aims to generate capital appreciation by investing primarily in equity and equity-related securities (including options premium), that are likely to benefit from recovery in the Indian economy.
The scheme will allocate around 80-100 % of assets in equity and equity-related securities, and 0-20 % in money market and debt instruments, the statement said.
As part of the investment strategy, the scheme will book profits at opportune moments to take advantage of the volatility in the market. It may also invest a small portion of its corpus in fixed income securities, including money market instruments, to manage liquidity requirements, BSLAMC said.