Aditya Birla Sun Life Resurgent India Fund – Series 6 has collected Rs.628 crore in its NFO. It was open for subscription from February 21 to March 7. The scheme received a total application of 56,431. The scheme has a tenure of 3.5 years.
A. Balasubramanian, CEO, Aditya Birla Sun Life Mutual Fund said, “The fund is structured to benefit from the resurgence in rural economy. It focuses on sectors that will benefit directly or indirectly, from the Government’s thrust on economic recovery in rural India.”
“The interest generated by this fund is a great sign of increasing interest from the retail investor to benefit from the growth of the Indian economy. It is especially encouraging to note that 58% of interest generated came from B15 markets,” he added.
The scheme will invest at least 80% in equities and the rest in money market and debt instruments. S&P BSE 500 will be the benchmark and Satyabrata Mohanty and Milind Bafna will manage the scheme.