Birla Sun Life Mutual Fund seeks SEBI nod for close-ended equity scheme

Birla Sun Life Mutual Fund has filed offer documents with the Securities and Exchange Board of India seeking approval to launch Birla Sun Life Resurgent India Fund - Series 4 & 5.

According to SEBI website, the close-ended equity scheme series will have a lock-in period of three years and six years.The investment objective of the scheme is provide capital appreciation by investing primarily in equity and equity-related securities that are likely to benefit from recovery in the Indian economy.

The scheme will invest at least 80 percent of its corpus in equity and equity-related securities including options premium, while the balance 20 percent will be deployed in money market and debt instruments, as per the draft offer document.

Other features

Plans: Direct and regular;

Options: Growth and dividend;

Load: Nil;

Minimum application amount: Rs 1,000 and in multiples of thereafter during the new fund offer period.

Benchmark Index: S&P BSE 200;

Fund Manager: Satyabrata Mohanty, head, mixed assets investment officer