Aditya Birla Sun Life MF seeks SEBI nod for open-ended exchange traded fund

Aditya Birla Sun Life Mutual Fund has sought the approval of Securities and Exchange Board of India to launch Aditya Birla Sun Life Nifty Next 50 ETF, Rajiv Gandhi Equity Savings Scheme (RGESS) Qualified Scheme, as per the information on the SEBI's website today.

The open-ended exchange traded fund will deploy up to 95 percent of its corpus in equity and equity-linked instruments, while the balance will be deployed in money market instruments and in units of liquid mutual fund.

Minimum investment: Rs 5,000 and in multiples of Rs 1,000 thereafter;

Entry load: Nil;

Exit load: Nil;

Benchmark index: Nifty Next 50 Index

Fund Manager: Lovelish Solanki