Birla Sun Life Mutual Fund launches
Birla Sun Life Focused Equity Fund – Series 2
A Close ended Equity Scheme
NFO Period from February 26, 2014 – March 14, 2014
Large-Cap oriented fund that invests in equity shares of the 100 largest listed companies in India
Eligible investors can also claim RGESS benefit u/s 80 CCG of the Income Tax act, 1961
Lucknow, February 27, 2014: Birla Sun Life Asset Management Company Limited, a part of Aditya Birla Financial Services Group (ABFSG), and investment manager for Birla Sun Life Mutual Fund (BSLMF), announced the launch of the Birla Sun Life Focused Equity Fund – Series 2, a close-ended Equity Scheme investing in Eligible Securities as per Rajiv Gandhi Equity Savings Scheme, 2013. The fund will invest in the equity securities specified as ‘eligible securities’ under the RGESS guidelines which include equity shares of (a) companies falling in list of BSE 100 and CNX 100 and (b) PSUs which are categorized as Navratna, Maharatna or Miniratna by the Central Government.
Speaking on the launch of the scheme, A. Balasubramanian, CEO, Birla Sun Life Asset Management Company Limited said, “The RGESS structure encourages discipline to stay invested in equities for investors who are new to Mutual Funds. The improving market environment also makes this a good time for retail investors to consider long-term wealth creation through equities. A close-ended equity fund like ours can be well positioned to capture this for investors. The additional Tax benefit u/s 80 CCG, with a higher income eligibility of Rs. 12 Lakhs per annum also makes this a meaningful opportunity for first-time investors.”
The New Fund Offer Period opens on February 26, 2014 and is open till March 14, 2014 with price of units of the scheme at Rs. 10 per unit. The minimum amount that investors can invest in this scheme is Rs. 5,000/- and in multiples of Rs. 10/- thereafter during the New Fund Offer period. Investing in Birla Sun Life Focused Equity Fund – Series 2 may also entitle the investors to avail tax benefits under section 80CCG which is over and above the eligibility under section 80C. Investors who have not opened a Demat account or have not made any transactions in their Demat account will be eligible. Incorrect [tax deductions available under Income Tax Act, 1961 shall be subject to various conditions specified therein from time to time.
The primary investment objective of the Scheme is to generate capital appreciation from a portfolio of equity securities specified as eligible securities for Rajiv Gandhi Equity Savings Scheme, 2013 (RGESS).
The scheme will be listed on BSE and NSE. As the units will be listed on stock exchange/s, Investors/ unit holders can buy / sell units on a continuous basis on the stock exchange/s. The minimum number of Units that can be bought or sold on the Exchange is 1 (one) unit.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
The information on taxation is provided for general information only. In view of the individual nature of tax implications, investors are requested to consult their tax advisors for the RGESS related and other tax implications before investing in the Scheme.
It is to be distinctly understood that the permission given by Bombay Stock Exchange Ltd. should not in any way be deemed or construed that the Scheme Information Document has been cleared or approved by Bombay Stock Exchange Ltd. nor does it certify the correctness or completeness of any of the contents of the Scheme Information Document. The investors are advised to refer to the Scheme Information Document for the full text of the ‘Disclaimer Clause of Bombay Stock Exchange Ltd.’.
It is to be distinctly understood that the permission given by National Stock Exchange of India Limited (NSE) should not in any way be deemed or construed that the Scheme Information Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Draft Scheme Information Document. The investors are advised to refer to the Scheme Information Document for the full text of the ‘Disclaimer Clause of NSE’
About Birla Sun Life Asset Management Company Limited
Established in 1994, Birla Sun Life Asset Management Company Limited (BSLAMC), investment manager for Birla Sun Life Mutual Fund, is a joint venture between the Aditya Birla Group and Sun Life Financial Inc, a leading international financial services organisation from Canada. Birla Sun Life Mutual Fund is the 4th largest Fund house in India based on domestic average assets under management as published by AMFI for the quarter ended December 31, 2013. An impressive mix of reach through 96 branches, a wide range of product offerings across equity, debt, balanced as well as structured asset classes and strong investment performance has helped the company garner over 2.1 million investor scheme accounts (as of December 31, 2013). BSLAMC offers investors a range of comprehensive investment options, which includes diversified and sector specific equity schemes, hybrid funds and a wide range of debt and treasury products. Its offerings also include Portfolio Advisory Services for High Net worth Individuals as well as offshore funds for Non-Resident Indians.
About Aditya Birla Financial Services Group
Aditya Birla Financial Services Group (ABFSG) ranks among the top 5 fund managers in India (excluding banks and LIC) with an AUM of ~$19.86 billion. Having a strong presence across the life insurance, asset management, NBFC, private equity, retail broking, distribution and wealth management, and general insurance broking businesses, ABFSG is committed to serve the end-to-end financial services needs of its retail and corporate customers. The seven companies representing ABFSG are: Birla Sun Life Insurance Company Ltd., Birla Sun Life Asset Management Company Ltd., Aditya Birla Finance Ltd., Aditya Birla Capital Advisors Pvt. Ltd., Aditya Birla Money Ltd., Aditya Birla Money Mart Ltd. and Aditya Birla Insurance Brokers Ltd. In FY2012-13, ABFSG reported consolidated revenue from these businesses at INR 6,390 Crores (1.17 billion) and earnings before tax at INR.761 Crores. Anchored by about 14,200 employees and trusted by about 5.3 million customers, ABFSG has a nationwide reach through more than 1,550 points of presence and about 1,60,000 agents/channel partners.
About Aditya Birla Nuvo Ltd.
Aditya Birla Nuvo is a USD 4.75 billion conglomerate. Over the years, it has successfully ventured into the service sectors viz., Financial Services (Life Insurance, Asset Management, NBFC, Private Equity, Broking, Wealth Management and general insurance advisory), Fashion & Lifestyle, Telecom, and IT-ITeS. Its razor sharp focus on manufacturing businesses has made it a leading player in the Agri, Rayon and Insulators sectors.
About Sun Life Financial
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Sun Life Financial and its partners have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of September 30, 2013, the Sun Life Financial group of companies had total assets under management of $590 billion. Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
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