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Aditya Birla Sun Life AMC has raised a commitment of Rs 893 crore for its Indian Equity Services Fund, a close-ended category III Alternate Investment Fund.
Launched on October 31, 2022 the fund closed on June 14, 2023.
It has already deployed Rs 504 crore as on June 21, 2023 across 30-plus companies having a service-driven business strategy. The fund’s top sectoral bets include financial services, information technology, energy, services, FMCG and healthcare.
In a press release, A. Balasubramanian, MD and CEO, Aditya Birla Sun Life AMC, said, "The services sector is the core growth engine of our economy and this fund serves as a platform for investors to become a part of India's growth story.”
He added, “It is particularly well-suited for individuals seeking long-term investing gains and possess a moderate to high risk tolerance. The fund's concentrated portfolio, coupled with flexible drawdown plans, empowers investors to navigate market volatility and mitigate risk associated with timing the markets."