Publish Date:
Aditya Birla Sun Life Mutual Fund has launched a new scheme – Aditya Birla Sun Life CRISIL IBX 50:50 Gilt Plus SDL Apr 2028 Index Fund.
It is an open-ended Target Maturity Index Fund tracking the CRISIL IBX 50:50 Gilt Plus SDL Index – April 2028. A relatively high interest rate risk and relatively low credit risk.
Accordingly, the investment objective of the Scheme is to generate returns corresponding to the total returns of the securities as represented by the CRISIL IBX 50:50 Gilt Plus SDL Index – April 2028 before expenses, subject to tracking errors.
However, there can be no assurance or guarantee that the investment objective of the Scheme will be achieved.
Under normal circumstances, Aditya Birla Sun Life CRISIL IBX 50:50 Gilt Plus SDL Apr 2028 Index Fund will hold an allocation of 95% to 100% of its assets in Instruments forming part of the CRISIL IBX 50:50 Gilt Plus SDL Index – April 2028 and 0% to 5% in Cash and Debt/Money Market Instruments.
As per the Scheme Information Document, Aditya Birla Sun Life CRISIL IBX 50:50 Gilt Plus SDL Apr 2028 Index Fund will replicate income over the target maturity period of its underlying index i.e. CRISIL IBX 50:50 Gilt Plus SDL Index – April 2028, subject to tracking errors. Accordingly, the Scheme will invest in securities in line with the benchmark index of the Scheme. The Scheme shall be considered to be replicating the underlying index, provided:
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The duration of the portfolio of the Scheme replicates the duration of the underlying index within a maximum permissible deviation of +/-10%.
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The following norms for permissible deviation in duration shall apply:
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For portfolio with residual maturity of greater than 5 years: Either +/-6 months or +/- 10% of duration, whichever is higher.
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For a portfolio with residual maturity of up to 5 years: Either +/-3 months or +/-10% of duration, whichever is higher.
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However, at no point of time, the residual maturity of any security forming part of the portfolio shall be beyond the target maturity date of the Scheme.
Aditya Birla Sun Life CRISIL IBX 50:50 Gilt Plus SDL Apr 2028 Index Fund’s performance will be benchmarked against CRISIL IBX 50:50 Gilt Plus SDL Index – April 2028.
The scheme will be managed by Mr Mohit Sharma and Mr Sanjay Godambe.
The NFO opens for subscription on September 28, 2022 and closes on October 12, 2022. The scheme will reopen for continuous sale and repurchase Within 5 business days from date of allotment.
The fund’s NAV is priced at Rs 10/- per unit during the NFO period. The minimum subscription amount is Rs 500/- and in multiples of any amount thereafter.
The scheme offers Regular Plan and Direct Plan each plan offers Growth and Income Distribution cum capital withdrawal option (IDCW) option.