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Birla Sun Life Mutual Fund launches India Reforms Fund

Birla Sun Life Mutual Fund (BSLMF), has launched an open ended equity scheme - Birla Sun Life India Reforms Fund

Birla Sun Life

14 May 2010

Birla Sun Life Mutual Fund launches India Reforms Fund


Birla Sun Life Mutual Fund (BSLMF), one of the leading mutual fund houses in India, has launched an open ended equity scheme - Birla Sun Life India Reforms Fund that intends to generate capital appreciation by investing in a portfolio of companies that are expected to benefit from the economic reforms, PSU divestment and increased government spending.


This New Fund Offer closes on June 9, 2010 is focusing on capital appreciation by building a long term portfolio.


According to Mr. A Balasubramanian, CEO, BSLMF, BSL India Reforms Fund will leverage on great growth opportunities for various businesses across sectors of the Indian economy as we believe that reform agenda is secular in nature and would continue for foreseeable long period of time. This belief rests on the fact that government policy evolution is an ongoing process. In turn, this will create wealth for companies and enhance shareholder value. In fact as per the eleventh five year plan ending 2012 , government has committed over Rs. 10 lakh crores in four important sectors alone, which are roads, telecom, healthcare and education.


The scheme will invest across sectors without any market cap or sectoral bias i.e. a mix of Midcap & Large cap opportunities. Also the scheme intends to buy the stock on expectations of the reforms, and hold for the reform story to play out, unless there is a change in view pertaining to the stock/ sector. The scheme would endeavour to remain invested in such sectors to capture the complete up-cycle - from the announcement of reform measures to the time when the reforms are actually implemented and benefit the respective sectors & stocks.


The NFO of units of Rs. 10/- opened for subscriptions on May 10, 2010 and will close on June 9, 2010. Benchmarked against S&P CNX 500 index, the fund offers both growth and dividend options with minimum application amount of Rs 5,000. Residents, Non-Resident Indians (NRIs), Foreign Institutional Investors (FIIs) and Person of Indian Origins (PIOs) are eligible to invest in the scheme on a full repatriation basis. 


About Birla Sun Life Asset Management Company:

Established in 1994, Birla Sun Life Asset Management Company (BSLAMC) is a joint venture between Aditya Birla Group, a well-known Indian conglomerate and Sun Life Financial Inc, leading international financial services organization from Canada. 

BSLAMC is the 5th largest asset management company in India with an average asset under management of Rs. 69,508 crores as on April 30, 2010.


About Aditya Birla Financial Services Group (ABFSG):

The Aditya Birla Financial Services Group (ABFSG) has a significant presence across various verticals, including life insurance, insurance broking, mutual funds, private equity, security based lending, factoring, insurance advisory services, retail broking and distribution of third party products. The seven companies representing Aditya Birla Financial Services Group are Birla Sun Life Insurance Company, Birla Sun Life Asset Management Company, Aditya Birla Money (erstwhile Apollo Sindhoori Capital Investments), Aditya Birla Money Mart (erstwhile Birla Sun Life Distribution Company), Aditya Birla Finance (erstwhile Birla Global Finance Company), Birla Insurance Advisory & Broking Services and Aditya Birla Capital Advisors.

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