The scheme has got 77,112 applications, claims the company.
Birla Sun Life Mutual Fund has collected Rs. 781 crore under its Birla Sun Life Manufacturing Equity Fund which closed for subscription recently.
A. Balasubramanian, CEO, Birla Sun Life AMC said, “We see improvement in Indian macro led by falling inflation driving reduction in interest rate; this in turn boosting investment and confidence for increased capital investments in the country. Our NFO presents investors a diversified equity fund, which channels the growth in Indian manufacturing for long-term wealth creation. The interest generated by our NFO 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 see that 36% of interest generated in Birla Sun Life Manufacturing Equity Fund came from B15 markets,” added A. Balasubramanian.
The fund house has got 77,112 applications through this fund, claims the company. Birla Sun Life Manufacturing Equity Fund aims to generate long-term capital appreciation by investing in companies engaged in manufacturing activity. The scheme aims to maintain a diversified portfolio covering sectors focusing on manufacturing, such as automobiles and auto ancillaries, pharmaceuticals, capital goods, consumer goods, chemicals, and textiles among others.
Benchmarked against S&P BSE 500, the fund will be managed by Anil Shah.
