Aditya Birla Sun Life Mutual Fund collected Rs 628 crore through its Birla Sun Life Resurgent India Fund – Series 6 during the new fund offer, a release from the fund house said.
The close-ended diversified equity scheme with a tenure of 3.5 years was open for subscription from February 21-March 7. The fund house received 56,431 applications for the fund.
According to Chief Executive Officer of Aditya Birla Sun Life Mutual Fund, A Balasubramanian, 58 percent of interest in the scheme was generated from B15 markets.
The fund aims to provide capital appreciation by investing in equity and equity-related securities that are likely to benefit from recovery in the Indian economy.
The scheme will deploy around 80-100 percent of assets in equity and equity-related securities (including options premium), and 0-20 percent in money market and debt instruments.
The endeavour of the fund manager will be to pick stocks across businesses or sectors which are more closely correlated to the Indian economic growth and the rural upsurge, and could become potential leaders in their respective fields in the future.
The scheme offers regular and direct plans along with Growth Option, and Dividend Option with Payout and Sweep Facility. The Scheme is benchmarked against S&P BSE 500 and will be managed by Satyabrata Mohanty and Milind Bafna.
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