Aditya Birla Sun Life Mutual Fund has launched a new fund named as Aditya Birla Sun Life Fixed Term Plan - Series SL (1120 days), a close ended income scheme. The tenure of the scheme is 1120 days from the date of allotment of units. The new fund offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 19 March 2019 to 26 March 2019.
The investment objective of the scheme seeks to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme.
The scheme offers two options viz. growth and dividend option with Normal Dividend sub-option (Payout Facility).
The scheme would invest 80% - 100% of assets in debt securities including government securities (excluding money market instruments) with low to medium risk profile and upto 20% of assets in money market instruments with low to medium risk profile.
The minimum application amount is Rs 1000 and in multiples of Rs 10 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry and exit load charge will be nil.
Benchmark Index for the scheme is CRISIL Composite Bond Fund Index.
The fund manager of the scheme will be Mohit Sharma.