Aditya Birla Sun Life MF has Launched Nifty Midcap150 Index Fund NFO
Aditya Birla Mutual Fund is launching a new fund offer (NFO) for Aditya Birla Sun Life Nifty Midcap 50 Index. It opens on March 15, 2021, and closes on March 26, 2021.
Investment Objective
The Aditya Birla Sun Life Nifty Midcap 150 Index Fund will imitate the Nifty Midcap 150 Index and aims to reflect the total returns of the companies listed on the index.
What Is an Index Fund?
Index funds ape the composition of a stock market index which becomes its benchmark index. They are passively managed mutual funds. The fund manager is not actively involved in the fund management.
Index funds do not aim to outperform their benchmark index but try to stay in line with the index.
Asset Allocation
| Instrument | Risk Profile | Normal Allocation
(% of Total Assets |
| Equity & Equity related securities forming the Nifty
Midcap 150 Index |
Medium to High | 95% – 100% |
| Debt and Money Market Instruments | Low to Medium | 0% – 5% |
Benchmark
The scheme will benchmark its performance against the Nifty Midcap 150 index. The index represents the companies ranked 101-250 on NIFTY 500 based on full market capitalisation.
Fund Details
| Name of the Scheme | Aditya Birla Sun Life Nifty Midcap 150 Index Fund |
| Type of the Scheme | An open-ended scheme tracking Nifty Midcap 150 TRI Index |
| NFO Dates | 15th March to 26 March 2021 |
| Benchmark | Nifty Midcap 150 TRI |
| Fund Managers | Mr Lovelish Solanki |
| Minimum Amount for Application | Minimum of Rs.500/- and in multiples of Re 1/- after that |
| Minimum Additional Application Amount | Additional Purchase: Minimum of Rs.500/- and in multiples of Re.1/- thereafter. |
| Minimum Redemption Amount | In multiples of Rs 1/- or 0.001 units. |
| Load | Entry Load: NIL
Exit Load: 0.5% of applicable NAV: For redemption / switch-out of units on or before 90 days from the date of allotment NIL: For redemption / switch-out of units after 90 days from the date of allotment |
| Plans | Regular and Direct Plans |
| Options | Each of the plans will have:
Dividend Option (Payout Facility & Reinvestment Facility) (2) Growth Option |
| Minimum SIP Amount | Minimum 6 instalments (including the first
instalment) of Rs. 500/- each and above per month |
Fund Managers
Lovelish Solanki: Mr Lovelish Solanki has an experience of more than 10 years in dealing and trading. Mr Solanki has also been associated with Union KBC AMC and at Edelweiss AMC in the past.
Names of other schemes under his management
- Aditya Birla Sun Life Equity Savings Fund@
- Aditya Birla Sun Life Nifty ETF
- Aditya Birla Sun Life Arbitrage Fund
- Aditya Birla Sun Life Gold Fund
- Aditya Birla Sun Life Sensex ETF
- Aditya Birla Sun Life Balanced Advantage Fund#
- Aditya Birla Sun Life Nifty Next 50 ETF
- Aditya Birla Sun Life Banking ETF
@Jointly with Mr. Satyabrata Mohanty & Mr. Pranay Sinha
# Jointly with Mr Mohit Sharma & Mr Vineet Maloo