Birla Sun Life Mutual Fund has filed an offer document Birla Sun Life Sector Rotation Fund. It is 3 year close ended equity scheme with an automatic conversion into open ended on the expiry of 3 years from the date of allotment. The new fund offering (NFO) for the scheme will be Rs. 10 with an applicable entry load during NFO period. The fund house seeks to collect a minimum corpus of Rs. 1 crore for the scheme.
The minimum initial subscription amount is Rs. 5000 and in multiple of Re. 1 thereafter.
The scheme offers investors a growth option and a dividend payout option. The dividend option will offer dividend payout and dividend reinvestment.
The primary investment objective of the scheme is to generate long term growth of capital by investing predominantly in a portfolio of equity and equity related securities of few selected sectors.
The scheme will charges an entry load as well as exit load to the investors investing in the scheme.
The fund will invest 80%-100% in equity and equity related securities issued by domestic companies and 0-20% in fixed income securities including money market instruments including investment in securitised debt up to the extent of 5% of the net assets of the scheme. The scheme may invest up to 50% of the net assets of the scheme in such derivative instruments as may be introduced from time to time for the purpose of hedging and portfolio balancing.
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