Publish Date:
ABSL Mutual Fund has Introduced a new scheme – Aditya Birla Sun Life CRISIL IBX Gilt Apr 2029 Index Fund
It is an open-ended Target Maturity Index Fund tracking the CRISIL IBX Gilt Index – April 2029. 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 Gilt Index – April 2029 before expenses, subject to tracking errors. The Scheme does not guarantee/indicate any returns. 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 Gilt Apr 2029 Index Fund will hold an allocation of 95% to 100% of its assets in Instruments forming part of the CRISIL IBX Gilt Index – April 2029 and 0% to 5% in Cash and Debt/Money Market Instruments.
As per the Scheme Information Document, Aditya Birla Sun Life CRISIL IBX Gilt Apr 2029 Index Fund will replicate income over the target maturity period of its underlying index i.e. CRISIL IBX Gilt Index – April 2029, subject to tracking errors.
During normal circumstances, the Scheme’s exposure to money market instruments will be in line with the asset allocation table. However, in case of maturity of G-Secs in the Scheme portfolio, the reinvestment will be in line with the index methodology.
Aditya Birla Sun Life CRISIL IBX Gilt Apr 2029 Index Fund’s performance will be benchmarked against CRISIL IBX Gilt Index – April 2029
The scheme will be managed by Mr Harshil Suvarnkar and Mr Sanjay Godambe.
The NFO opens for subscription on October 11, 2022 and closes on October 18, 2022. The schemes will reopen for continuous sale and repurchase within 5 business days from the date of allotment of units.
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.