Aditya Birla Sun Life Mutual Fund has launched an open ended retirement solution scheme, Aditya Birla Sun Life Retirement Fund. The fund has a lock-in period of minimum five years or till retirement age, whichever is earlier.
The fund aims to help investors plan their retirement efficiently with four asset allocation plans to suit various age groups and different risk profiles of an individual.
A. Balasubramanian, CEO, Aditya Birla Sun Life MF said, “The scheme provides investors an investment solution to plan their retirement from as early as in their 30s to factor in the rising cost of living. Efficient retirement planning is extremely important to manage future expenses and an investment option like this will help one spend the golden years of your life in peace.”
The fund offers four investment options designed as per suitability of various age groups and includes – The 30s plan with 80-100 % of the corpus invested in equity and equity related instruments and the rest in debt and money market instruments.
- The 40s plan has a flexible equity exposure between 65-80% and
- The 50s plan has a flexible debt exposure in the range of 75-100%.
- In addition to these, there is a 50s Plus Debt Plan for those nearing retirement age, which invests up to 100% in debt and money market instruments.
Ajay Garg and Pranay Sinha will manage the fund.