Birla Sun Life Asset Management Company introduces Capital Protection Oriented Fund Series 3 and Series 4
11th January, 2011
Mumbai: Birla Sun Life Asset Management Company (BSLAMC), one of the leading asset management companies in India has announced the launch of their New Fund Offers - Capital Protection Oriented Fund Series 3 and Series 4, which are appealing alternative to the traditional investment options like Fixed Deposits. These are 36-month close-ended schemes, which are oriented towards protection of the invested money by investing into high quality bonds (debt) till the end of tenure and exploring capital growth prospect by investing a part of the capital for equity market exposure.
Mr. A Balasubramanian, CEO, BSLMAC, said, "We had launched Capital Protection Oriented Fund series 1 and 2 last year, which received overwhelming response from investors. In fact, they were the most successful launches in this category thus far with collection of over Rs.1000 crores. We are now launching Series 3 and Series 4, given that the current market conditions make such funds attractive, and provide alternate investment options to investors."
"Investors who not only look for protecting his / her hard earned money but also look for investment options that can provide returns on his / her capital, will find this an attractive proposition. This product is so designed to keep the investors' money safe. At the same time it allows the investor an opportunity to take a small exposure to equity market through investing in premium of exchange traded index options. The returns of such funds are also more tax-efficient as compared to traditional deposits," he added.
BSL CPOF Series 3-4, have been rated mfAAA(so) by ICRA. The funds offer growth option only, with minimum application amount of Rs.5000 and multiples of Rs.10 thereafter during the new fund offer period. Non-Resident Indians (NRIs), Foreign Institutional Investors (FIIs) and Person of Indian Origins (PIOs) are eligible to invest in the scheme on a full repatriation basis. Benchmarked against CRISIL MIP Blended Index, the fund has no entry and exit load. It shall be open for subscription till 24th January 2011.
The redemption of units shall be allowed only at the maturity of the scheme. However, the fund shall be listed on stock exchanges, and investors can buy / sell units of the fund there.
About Birla Sun Life Asset Management Company
Established in 1994, Birla Sun Life Asset Management Company Limited (BSLAMC) is a joint venture between Aditya Birla Group, a well known Indian conglomerate and Sun Life Financial Inc, leading international financial services organization from Canada.
BSLAMC is the 5th largest asset management company in India with domestic average assets under management of US$15 billion for the quarter, April - June 2011. An impressive mix of reach through 103 branches, wide range of product offerings across equity, debt, balanced as well as structured asset classes and strong investment performance has helped the Company garner over 2.4 Million investor scheme accounts. Known for its consistent investment performance across asset classes, BSLAMC has received recognition from various institutes of international repute like Lipper, Outlook Money and The Asset Magazine - Hong Kong.
About Aditya Birla Financial Services Group (ABFSG)
The Aditya Birla Financial Services Group (ABFSG) has built a significant presence across its verticals, viz., life insurance, asset management, NBFC, private equity, broking, general insurance advisory services and wealth management and distribution. The seven companies representing Aditya Birla Financial Services Group are Birla Sun Life Insurance Company Ltd, Birla Sun Life Asset Management Company Ltd, Aditya Birla Finance Ltd, Aditya Birla Capital Advisors Pvt Ltd, Aditya Birla Money Ltd, Aditya Birla Money Mart Ltd and Aditya Birla Insurance Brokers Ltd.
ABFSG is committed to being a leader and role model in a broad based and integrated financial services business. Its 7 lines of businesses, with about 5.5 million customers manages assets worth US$20 billion approximately and prides itself for having a talent pool of about 15,000 committed employees. ABFSG has its wings spread across more than 500 cities in India through over 1700 points of presence and about 200,000 channel partners. This allows ABFSG to offer its customers virtually anything other than a savings or current account. With revenue of US$1.4 billion ABFSG is a significant non bank player.
ABFSG is a part of Aditya Birla Nuvo Ltd (ABNL), a US$4 billion conglomerate having leadership position across its manufacturing as well as services sector businesses. ABNL is a part of the Aditya Birla Group, a US$35 billion Indian business house operating in 33 countries across the globe.
About Sun Life Financial Inc
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of March 31, 2011, the Sun Life Financial group of companies had total assets under management of Canadian $469 billion. For more information please visit www.sunlife.com
Sun Life Financial Inc trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
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