Birla Sun Life Mutual Fund has launched an
open ended index linked exchange traded fund called Birla Sun Life Nifty ETF
Mumbai: The new fund offer will be
open from July 4, 2011 to July 18, 2011.
The investment objective of the scheme will be to
provide returns that closely correspond to the total returns of securities as
represented by S&P CNX Nifty, subject to tracking errors. The scheme will allocate 95 to 100 per cent of assets in securities comprising of underlying benchmark index with
high risk profile.
It would further allocate up to 5
per cent of assets in debt and money market instruments with low to medium risk
profile.
The minimum application amount will be Rs 5,000 and in multiples of Rs. 1,000/- thereafter per application. The scheme will have growth plan only. The scheme will not any entry or exit load. The scheme will be Satyabrata Mohanty, Head - Mixed Assets. It will be benchmarked against S&P CNX Nifty.
