Aditya Birla Sun Life AMC has collected close to Rs.100 crore during NFO of the Aditya Birla Sun Life Bal Bhavishya Yojna, said a company press release.
The fund has attracted investors from 244 locations from across the country with 55% applications coming from B30 cities. The fund in its NFO period garnered 44, 661 applications, close to 50% of which were through SIPs. The SIP commitment emerging from the NFO period is significant in the child plan segment, claims the fund house.
A. Balasubramanian, CEO, Aditya Birla Sun Life AMC, said, “It is encouraging to note that 55% of the applications have come from B30 markets, establishing the fact that the understanding of the need for long term financial planning is not just an urban phenomenon anymore. Rather this evolution is countrywide bringing more people into the fold of disciplined investments and future planning.”
“At an AUM of close to Rs. 100 crore and an expected steady and substantial accrual in the form of SIP, we are committed to growing this scheme by reaching out to more customers, given the target segment is very large and the benefit that could be accrued in the long run is also very huge,” Balasubramanian added.
The fund aims to help investors meet the future financial requirements for a child, like expenditure incurred towards higher education, career goals, marriage, for which the investment horizon would be over a longer period.