Publish Date:
Aditya Birla Sun Life Mutual Fund has launched an open-ended equity index scheme - Aditya Birla Sun Life Nifty Midcap 150 Index Fund.
The scheme will be replicating/tracking the Nifty Midcap 150 TR Index.
The investment objective of the scheme is to provide returns that closely correspond to the total returns of securities as represented by Nifty Midcap 150 Index, subject to tracking errors. The Scheme does not guarantee/indicate any returns. There can be no assurance that the schemes’ objectives will be achieved.
The scheme is mandated to invest 95% to 100% of its total assets in Equity and Equity related securities constituting the Nifty Midcap 150 Index. The scheme may also hold 0% to 5% of its assets in debt and money market instruments.
As per the Scheme Information Document, Aditya Birla Sun Life Nifty Midcap 150 Index Fund will follow passive investment strategy and will invest not less than 95% of its corpus in stocks comprising the underlying index and endeavour to track the benchmark index while minimizing the tracking error.
The AMC does not make any judgments about the investment merit of Nifty Midcap 150 Index nor will it attempt to apply any economic, financial or market analysis. The scheme would also aim to maintain least amount of cash & equivalents in order to manage its liquidity requirements.
ABSLAMC may, from time to time, review and modify the Scheme’s investment strategy if such changes are considered to be in the best interests of the unit holders and if market conditions warrant it.
Aditya Birla Sun Life Nifty Midcap 150 Index Fund’s performance will be benchmarked against Nifty Midcap 150 TRI (Total Return Index).
The fund will be managed by Mr Lovelish Solanki.
The NFO opens for subscription on March 15, 2021, and closes on March 26, 2021. The scheme will reopen for continuous sale and repurchase within 5 business days from date of allotment.
The minimum subscription amount is Rs 500 and in multiples of Re 1 thereafter.
The fund offers Regular Plan and Direct Plan having Growth Option and Dividend Option (Dividend Re-investment and Dividend Pay-out facilities).