Birla Sun Life Mutual Fund files offer document for its Birla Sun Life Equity Savings Fund
Birla Sun Life Mutual Fund has filed a draft offer document with SEBI for its open ended hybrid scheme called - Birla Sun Life Equity Savings Fund.
The scheme aims to provide capital appreciation and income distribution to the investors by using a blend of equity derivatives strategies, arbitrage opportunities and pure equity investments. The scheme will be investing 65%-80% in equity and equity related instruments including derivatives and 20%-35% in debt and money market instruments.
The benchmark of the scheme will be S&P BSE 200 to the extent of 30% of portfolio, CRISIL Short Term Bond Fund Index to the extent of 30% of the portfolio and CRISIL Liquid Fund Index to the extent of 40% of portfolio.
The scheme has an exit load of 1.50% if redeemed within 365 days from the date of allotment, 0.50% if redeemed after 365 days but within 540 days from the date of allotment and nil if redeemed after 540 days from the date of allotment.
The fund will be co-managed by Satyabrata Mohanty and Prasad Dhonde.
