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Birla Sun Life MF launches “Birla Sun Life Capital Protection Oriented Fund - Series 22”; NFO to close on August


25 Jul 2014
Birla Sun Life Mutual Fund has launched a new close ended capital protection oriented scheme named “Birla Sun Life Capital Protection Oriented Fund - Series 22” with maturity period of 1100 days from the date of allotment.

The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The NFO opened for subscription today and will close on August 08.

According to the offer document filed with SEBI, the entry load is nil and since the scheme is planned to be listed on the Stock Exchange or any other exchange, the exit load charge will not be applicable. This suggests that the investors wishing to exit may do so through the stock exchange mode.

The minimum application amount is Rs 5,000 and in multiples of Rs 10 thereafter. The option available under the Plan of the Scheme is Growth option only.

The performance of the scheme will be benchmarked against CRISIL MIP Blended Index. Prasad Dhonde
and Vineet Maloo will be the Fund Managers of the scheme.

The asset allocation of scheme will be in such a way that the objective of the scheme to seek capital protection will be met by investing in a portfolio of debt securities & money market instruments and equity & equity related instruments. Hence, the scheme will allocate 80 to 100 per cent of asset in debt securities & money market instruments and 0 to 20 per cent of asset in equity & equity related instruments.

Source: Dion Global    Type: Mutual Fund Review