Birla Sun Life Asset Management Company today said it has launched Resurgent India Fund-Series 3, a close-ended equity scheme with tenure of 3.5 years from and including the date of allotment.
The company is part of the Aditya Birla Financial Services Group (ABFSG) and investment manager for Birla Sun Life Mutual Fund (BSLMF).
The new fund offer (NFO), which opened for subscription from February 23, closes on March 9 with price of units of the scheme at face value of Rs 10 per unit.
"Our NFO looks to provide investors a good opportunity to benefit from companies which stand to appreciate in the long run, and gain from the turnaround in the Indian economy over the 3.5-year horizon," Birla Sun Life Asset Management Company chief executive A Balasubramanian said.
"As the Indian economy surges to new heights, the government is working towards building a strong financial foundation through economic and administration reforms. We see this driving a new trend in the economy-a shift from the unorganised to the organised sector," he said.
"Reforms such as demonetisation, digitisation, and the implementation of GST will add a strong tailwind for serious gains by companies in the organised sector," he added.
The fund aims to generate 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 allocate around 80-100 per cent of assets in equity and equity related securities, and 0-20 per cent in money market and debt instruments, the company release said.
As part of the investment strategy, scheme will book profits at opportune moments to take advantage of the volatility in the market. The scheme may also invest a small portion of its corpus in fixed income securities including money market instruments to manage its liquidity requirements, it added.
The scheme will have regular plan and direct plan with a common portfolio and separate NAVs. Each of the regular and direct plan under the scheme will have growth option, and dividend option with payout and sweep facility.
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