NFO Update: Aditya Birla Sun Life Mutual Fund launches conglomerate fund
Aditya Birla Sun Life Mutual Fund has announced the launch of the Aditya Birla Sun Life Conglomerate Fund, an open-ended diversified equity scheme following the conglomerate theme.
The New Fund Offer (NFO) of the scheme will open for subscription on December 5 and close on December 19. The scheme will reopen for continuous sale and repurchase within five business days from the date of allotment.
The scheme's investment objective is to achieve long-term capital appreciation by investing in equity and equity-related securities of companies that follow a conglomerate theme. The scheme will be benchmarked against the BSE Select Business Groups Index and will be managed by Harish Krishnan and Kunal Sangoi.
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For redemption or switch-out of units on or before 90 days from the date of allotment, the exit load will be 0.50% of the applicable NAV. For redemption or switch-out of units after 90 days from the date of allotment, the exit load will be nil.
The minimum application amount for lump sum and monthly, weekly, or daily SIP will be Rs 100, and in multiples of Re 1 thereafter. The minimum redemption or switch-out amount is Re 1, and in multiples of Re 1 thereafter.
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