12 Apr 2008 | 11:38
Birla Sun Life MF files an offer document
Name of Fund: Birla Sun Life Equity Linked Plan
Scheme: It is a close-ended structured scheme. The scheme will comprise of four series from A to D having maturity ranging from 18 months to 36 months.
Objective: The scheme seeks to invest in short and medium term debt instruments with fixed and/or floating payouts linked to equity indices/ equity schemes. The scheme may also undertake to invest in short and medium term derivative contracts.
Asset Allocation: The fund will invest 70%-100% in debt instruments, money market instruments. It will have investment of 0-30% in derivative options. Derivative instruments linked to equity indices/ equity schemes should be up to 100% of the net assets.
Premium that may be paid for buying options would be reckoned for the purposes of the specified limits under normal circumstances; the scheme will invest in above instruments in line with its duration. The investments in securitised debt papers may be made up to 50% of the net assets of the scheme. The scheme may invest in foreign securities up to 100% of its Net Assets.
The fund manager will apply following limits, for stock lending: Not more than 20% of the net assets of the scheme can generally be deployed in stock lending and not more than 5% of the net assets of the scheme can generally be deployed in stock lending to any single counter party.
Face Value: Rs 10
Investment Options: The scheme will have retail plan and institutional plan with a common portfolio. Each plan under the scheme will further have dividend and growth options. Further, dividend option shall have payout and reinvestment facility.
Entry Load:
Under retail plan: The scheme will charge 2.25% an entry load for purchase / switch-in of units less than Rs. 5 crores in value. No entry load will be charged for the purchase / switch-in of units equal to greater than Rs. 5 crores in value.
Under institutional plan: It may not ask for any entry load.
Exit Load: It is proposed to charge an exit load of 2% if units purchased on or before 365th day from the date of allotment. It levies 1% an exit load if units repurchased after 365 days from the date of allotment but before maturity date. There will be no exit load charged on the redemption made on the day of maturity.
Minimum Investment Amount: Minimum investment under retail plan is Rs 5,000 and in multiples of Re 1 thereafter. Under institutional plan, the minimum investment amount is Rs 5 crore in multiples of Re 1 thereafter.
Minimum subscription amount: Rs 10 lakh
Benchmark Index: CRISIL Balanced Fund Index
Fund Manager: Mr. Prasad Dhonde would be the designated Fund Manager of the scheme. Mr. Vineet Maloo shall be the dedicated Fund Manager for investments in Foreign Securities.
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