| Aditya Birla Sun Life Mutual Fund has launched a new fund named as Aditya Birla Sun Life PSU Equity Fund, an open ended equity scheme following PSU theme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 09 December 2019 to 23 December 2019.
The Investment objective of the scheme is to provide long term capital appreciation by investing in equity and equity related instruments of Public Sector Undertakings (PSUs).
Presently, two options are available under the scheme viz. growth and dividend option with dividend payout.
The scheme will invest 80% - 100% of its assets in Equities & Equity Linked instruments of Public Sector Undertakings with high risk profile, invest upto 20% of assets in Other Equity & Equity Linked instruments with high risk profile, and invest upto 20% of assets in Debt and Money Market Instruments with low to medium risk profile invest upto 10% of assets in Units issued by REITs & InvITs with medium to high risk profile.
The minimum application amount is Rs 500 and in multiples of Rs 1 thereafter.
The minimum additional application amount is Rs 500 and in multiples of Rs 1 thereafter.
The fund seeks to collect a minimum subscription amount of Rs 10 crore under the scheme during the NFO period.
Entry load: Nil
Exit load: For redemption / switch-out of units on or before 90 days from the date of allotment: 0.5% of applicable NAV.
For redemption / switch-out of units after 90 days from the date of allotment: Nil
Benchmark Index for the scheme is S&P BSE PSU TR Index.
The fund manager of the scheme is Mahesh Patil. |