Aditya Birla Mutual Fund NFO Opens For Fixed Term Plan

Aditya Birla Mutual Fund NFO for Aditya Birla Sun Life Fixed Term Plan – Series RB (94 days) is open for subscription for one day on September 10, 2018.

The investment objective of the Aditya Birla Sun Life Fixed Term Plan – Series RB scheme is to produce income by making an investment in a portfolio of fixed income instruments maturing on or before the maturity period of the plan.

The Fixed Term Plan will invest up to 100 percent of its assets in debt instruments including government instruments and money market securities with low to medium risk profile.

The new close-ended income scheme launched by the Aditya Birla Sun Life Mutual Fund has the tenure of 94 days from the date of allocation of units.

The Aditya Birla Mutual Fund NFO price for the scheme is 10 Rupees per unit. The minimum application amount for the scheme is 1000 Rupees for the initial investment and in multiples of 10 Rupees thereafter. There will be no entry load and exit load charges for the plan.

The close-ended income scheme offers two Options – Growth and Dividend Option (Payout facility). The scheme is benchmarked against the CRISIL Short Term Bond Fund Index.

The fund house has appointed Mr. Mohit Sharma as the fund manager.  Sharma has many years of experience in financial markets.

Mr. Sharma joined Aditya Birla Sun Life AMC Limited in October 2015. Before joining the firm, he ran his own healthcare-tech business from June 2012 to May 2015. Before that from May 2007 to June 2011, he worked in Standard Chartered Bank as an Interest Rates Trader, and from June 2006 to April 2007, he worked in ICICI Bank Ltd.

He began his career in Irevna Ltd., in June 2005. From June 2005 to June 2006, he worked in the Equity Research in Irevna Ltd.

Sharma holds a PGDCM from the Indian Institute of Management Calcutta and a B. Tech from Indian Institute of Technology, Madras, reported Bloomberg.

The Fixed Term Plan – Series RB fund aims to collect a minimum subscription amount of 20 crore Rupees under the scheme during the Aditya Birla Mutual Fund NFO period, according to KJMC.

The post Aditya Birla Mutual Fund NFO Opens For Fixed Term Plan appeared first on OWLT Market.

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