Birla Sun Life Mutual Fund Fixed Term Plan - Series NM (1135 days), a close ended income scheme

Birla Sun Life Mutual Fund has launched a new fund named as Birla Sun Life Fixed Term Plan - Series NM (1135 days), a close ended income scheme. 

The tenure of the scheme is 1135 days from the date of allotment of units. The new fund offer (NFO) price for the scheme is Rs. 10 per unit. The new issue will be open for subscription only on 02 March 2016.

The investment objective of the scheme is to seek to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme..

The scheme offers two options viz. growth and dividend option with Normal Dividend sub-option (Payout Facility) and Quarterly Dividend sub-option (Payout Facility)

The scheme would invest 80% to 100% of assets in debt securities (excluding money market instruments), invest upto 20% of assets in money market instruments with low to medium risk profile and invest upto 20% of assets in government securities with low risk profile.

The minimum application amount is Rs. 5,000

Entry & exit load charge will be nil.

Benchmark Index for the scheme is CRISIL Composite Bond Fund Index.

The fund manager of the scheme will be Mr. Kaustubh Gupta.

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