Birla Sun Life Mutual Fund has filed offer document with Sebi to launch Birla Sun Life Short Term FMP-Series 39 to Series 48, a closed end income scheme. The New Fund Offer price is Rs 10 per unit.
Investment objective: The scheme seeks to generate income by investing in a portfolio of fixed income securities maturing on or before the duration of the scheme.
Options: The scheme will have Dividend and Growth Option. Further, Dividend option shall have only Payout facility. Default Option - Growth.
Benchmark: CRISIL Liquid Fund Index (for schemes with duration of 30-91 days)
CRISIL Short Term Bond Fund Index (for schemes with duration of 92 to 364 days)
Minimum Application Amount: Rs.5,000 and in multiples of Rs.10/- thereafter.
Minimum Target Amount: Rs 20 crore.
Asset Allocation: The scheme shall invest 60%-100% in debt securities and money market instruments. Money market instruments include commercial papers, commercial bills, treasury bills, and Government securities having an unexpired maturity upto one year, call or notice money, certificate of deposit, usance bills, CBLOs and any other like instruments as specified by the Reserve Bank of India from time to time. The scheme shall also invest upto 40% in government securities.
Fund Manager: Mr. Kaustubh Gupta
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