Mutual Fund News : Aditya Birla Sun Life Mutual Fund Introduces Aditya Birla SL Banking ETF

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Aditya Birla Sun Life Mutual Fund has launched an open ended exchange traded fund tracking Nifty Bank Index. The fund is known as Aditya Birla SL Banking ETF which aims to replicate the Nifty Bank Index.

The investment objective of the scheme is to provide returns that, before expenses, closely correspond to the total returns of the securities as represented by the Nifty Bank Index. However, the performance of scheme may differ from that of the underlying index due to tracking error. The scheme does not guarantee/indicate any returns. There can be no assurance that the schemes’ objectives will be achieved.

The scheme’s performance will be benchmarked against Nifty Bank TRI.

The fund will be managed by Mr. Lovelish Solanki.

The NFO opens for subscription on October 16, 2019 and closes on October 22, 2019.

The minimum subscription amount is Rs 5,000 and in multiples of Rs 1,000 thereafter.