Posts filed under 'Birla Sun Life Mutual Fund'
More mutual funds begins to race into the Gold ETF market. After Benchmark, UTI Mutual Fund, Kotak Mutual Fund, Prudential ICICI, Tata Mutual Fund and Escorts, the latest entrant expressing interest in launching a Gold Exchange Traded Fund (GETF) is Birla Sun Life Mutual Fund.
Birla Sunlife MF filed a draft offer document before SEBI for its upcoming Open ended Exchange Traded Scheme titled Birla Sun Life Gold Exchange Traded Fund. Investment objective of this fund is to endeavor to provide returns that, before expenses, closely track the performance and yield of Gold or Gold related instruments subject to tracking errors.
Flexibility is one area that this scheme is featuring a lot. According to the document filed, The Mutual Fund will allow investors the flexibility to switch their investments from any other scheme(s) / plans offered by the Mutual Birla Sun Life Gold Exchange Traded Fund 4 investments from any other scheme(s) / plans offered by the Mutual Fund to Birla Sun Life Gold Exchange Traded Fund (subject to completion of lock-in period, if any, of the units of the scheme(s) from where the units are being switched) during the NFO period and on ongoing basis thereafter.
The Minimum Application Amount during the NFO period is Rs. 5,000/ - and in multiples of Re. 1/- thereafter during the NFO
period. The Minimum Application Amount on Ongoing basis is Rs. 500/ - and in multiples of Re. 1/ - thereafter.
In regard to the load structures, the Entry Load is as follows:
For purchases/ switch – in of units upto Rs. 10 Lacs: 3%
For purchases/ switch – in of units greater than Rs. 10
Lacs but upto Rs. 1 crore: 1.50%
For purchases/ switch – in of units greater than Rs. 1
crore but upto Rs. 5 crores: 0.25%
For purchases/ switch – in of units greater than Rs. 5 crores: Nil
The Exit Load will be as follows:
Not exceeding: 0.50%.
However, the Trustee shall have a right to prescribe or modify the load
structure with prospective effect subject to a maximum prescribed
under the Regulations.
February 14th, 2007
Birla Sun Life Mutual Fund has recently filed draft offer document before SEBI for its upcoming Birla Sun Life Long Term Advantage Fund- Series 1.
The scheme is actually a closed end diversified equity scheme with a maturity of 3 years. Upon maturity, the scheme shall automatically be converted into an open-ended scheme.
The investment objective of the scheme is as follows:
Birla Sun Life Long Term Advantage Fund- Series 1 seeks to generate consistent long-term capital appreciation by investing predominantly in equity and equity related securities of companies considered to be small and mid cap. “Small and Mid Cap” is defined as any company, which has a market capitalization below that of the top 20% of the S&P CNX 500 index and may or may not be a company forming part of the S&P CNX 500 Index. The Scheme may also invest a certain portion of its corpus in fixed income securities including money market instruments , in order to meet liquidity requirements from time to time.
The minimum of Rs. 5000/ - and in multiples of Re. 1/ - thereafter during the NFO period. Upon conversion into an open-ended scheme (after 3 years from the date of allotment), the minimum will be changed to Rs. 5000/ - and in multiples of Re. 1/ - thereafter on an ongoing basis.
The CNX Midcap Index will be taken as the Benchmark Index.
Birla Sun Life Mutual Fund already has a Midcap fund called the Birla Midcap Fund launched on October 3, 2002. Its investment objective is as follows: An Open-ended growth scheme with the objective to achieve long-term growth of capital at controlled level of risk by primarily investing in midcap stocks. The fund has a corpus of Rs. 232.56 Crores (As on December 29, 2006 as per Connect January 2007).
The NAV of this fund as on 9-Feb-2007 is as follows:
101591;Birla MIDCAP Fund-Plan A (Dividend);24.10
101592;Birla MIDCAP Fund-Plan B (Growth);67.01
February 10th, 2007
Arbitrage Fund trend are new thing and fast catching up in the Indian Mutual Fund industry and the latest entrant to this list is the Birla Sun Life Arbitrage Fund from the leading name in the Indian Mutual Fund industry - the Birla Sun Life Mutual Fund. Readers may recall JM, SBI, Standard Charterd and Pru ICICI are the funds in this segment so far.
The Birla Sun Life Arbitrage Fund is an Open ended Equity Scheme investing in a mix of equity, equity derivatives, debt and money market instruments. The investment objective of the Scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunities in the cash and the derivative segments of the equity markets and the arbitrage opportunities available within the derivative segment and by investing the balance in debt and money market instruments. However, there can be no assurance that the investment objective of the scheme will be realised.
The minimum application amount is Rs. 5000 and in multiples of Rs. 1. The minimum amount for additional purchases is Rs. 1000 and in multiples of Rs. 1. The benchmark index is CRISIL Liquid Fund Index.
A view of how the existing Arbitrage Funds are doing:
JM Arbitrage Advantage Fund - Growth - 17-Jan-07 - 10.3594
SBI ARBITRAGE Opportunities Fund - Growth - 17-Jan-07 - 10.1981
Standard Chartered Arbitrage Fund - Plan A (Regular) - Growth - 17-Jan-07 - 10.0921
Prudential ICICI Equity & Derivatives Fund-Wealth Optimiser Plan-Retail Growth Option - 17-Jan-2007 - 10.23
January 17th, 2007
Next Posts