| Aditya Birla Sun Life Mutual Fund has launched a new fund named as Aditya Birla Sun Life Bal Bhavishya Yojna, an open ended fund for investment for children having a lock-in for at least 5 years or till the child attains age of majority (whichever is earlier). The new fund offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 22 January 2019 to 05 February 2019.
Investment Objective:
Wealth Plan:
The investment objective of the Wealth Plan is to seek generation of capital appreciation by creating a portfolio that is predominantly investing in equity & equity related securities and debt and money market instruments.
Savings Plan:
The investment objective of the Plan is to generate income and capital appreciation by predominantly investing in a diversified portfolio of debt and money market securities along with equity and equity related instruments.
The Scheme will have following Investment Plans:
The Wealth Plan
The Savings Plan
Each of the above (Regular and Direct) Plan under the scheme will have the following Options: Dividend Option (Payout & Reinvestment Facility) & Growth Option.
Asset allocation and Investment Patten:
Wealth Plan:
The scheme would invest 65% - 100% of assets in Equities and Equity related instruments with medium to high risk profile and invest upto 35% of assets in Fixed Income Securities (including Money Market Securities and securitized debt upto a maximum of 35%) with low to medium risk profile and invest upto 10 of asset in Units issued by REITs and InvITs with medium to high risk profile.
Savings Plan:
The scheme would invest 75% - 90% of assets in Debt & Money Market Securities (including securitized debt upto a maximum of 50%) with low to medium risk profile and invest 10% - 25% of assets in Equities and Equity related instruments with medium to high risk profile and invest upto 10 of asset in Units issued by REITs and InvITs with medium to high risk profile.
The minimum application amount is Rs 1000 and in multiples of Rs 1 thereafter.
The minimum additional purchase amount is Rs 1000 and in multiples of Rs 1 thereafter.
Wealth Plan:
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period.
Savings Plan:
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period.
Entry and exit load charge will be nil.
Benchmark Index:
Wealth Plan: S&P BSE 200.
Savings Plan: CRISIL Hybrid 85+15 Conservative Index
The fund managers of the scheme are Ajay Garg and Pranay Sinha.
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