Aditya Birla Sun Life AMC launches new mutual fund scheme
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 recovery in the Indian economy, it said.
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.
“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,” said A Balasubramanian, CEO, Aditya Birla Sun Life AMC Ltd.