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Aditya Birla Mutual Fund has launched a new fund offer for ABSL Nifty-50 Equal Index Fund. The NFO is open for subscriptions between May 19 and June 2, 2021.

Investment Objective

The fund’s objective is to mimic the securities listed under the Nifty 50 Equal Weight Index and stay in line with the index’s returns.

What Is an Index Fund?

Index funds are mutual funds that imitate the composition of a particular stock market index. Index funds are hence known as passively managed mutual funds. Fund managers cannot decide which stocks will move in and out and how much of the fund’s money will be used to purchase which stock. 

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Benchmark: NIFTY 50 Equal Weight Index

The scheme will mimic the Nifty 50 Equal Weight Index, the scheme’s benchmark index. The index comprises the same stocks listed in Nifty 50. In the Nifty 50 Equal Weight Index, the difference is the socks are given equal weightage. Each stock is given a 2% allocation.

In Nifty 50, stocks are weighted according to the market capitalization.

Asset Allocation

Instrument  Risk Profile Normal Allocation (% of assets)
Equity & Equity related securities constituting the Nifty 50 Equal Weight Index Medium to High 95% – 100%
Debt and Money Market Instruments  Low to Medium 0% – 5% 

Benchmark

The performance of the scheme will be benchmarked to the performance of Nifty 50 Equal-Weight TRI. It represents an alternative weighting strategy based on its parent index, Nifty 50.  The index includes the same companies, Nifty 50 but weighted equally. 

Fund Details

Name of the Scheme Aditya Birla Sun Life Nifty 50 Equal Weight Index Fund
Type of the Scheme An open-ended scheme tracking Nifty 50 Equal-Weight TR Index
NFO Dates From May 19 to June 2, 2021
Benchmark Nifty-50 Equal-Weight TRI
Fund Managers Mr. Lovelish Solanki
Minimum Amount for Application Minimum of Rs.500/- and in multiples of Re. 1/- 
Minimum Additional Application Amount Additional Purchase: Minimum of Rs.500/- and in multiples of Re.1/- after that.
Minimum Redemption Amount In multiples of Re. 1/- or 0.001 units. 
Load Entry load- Nil

Exit load- Nil

Plans Regular Plan and Direct Plan
Options Income Distribution cum Capital Withdrawal Option (“IDCW”), and

Growth Option

Minimum SIP amount Rs. 500/- each and above for a minimum of 6 months

Fund Manager

Lovelish Solanki: Mr Solanki has an overall experience of over 10 years in dealing and trading. Before working with Aditya Birla Sun Life AMC, Mr Solanki has been associated with Union KBC AMC and Edelweiss AMC.

Names of other schemes under his management

  • Aditya Birla Sun Life Equity Savings [email protected]
  • 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 Mohit Sharma and Mr Vineet Maloo
@Jointly with Mr Satyabrata Mohanty and Mr Harshil Suvarnkar

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Investment in securities market are subject to market risks, read all the related documents carefully before investing. Please read the Risk Disclosure documents carefully before investing in Equity Shares, Derivatives, Mutual fund, and/or other instruments traded on the Stock Exchanges. As investments are subject to market risks and price fluctuation risk, there is no assurance or guarantee that the investment objectives shall be achieved. NBT do not guarantee any assured returns on any investments. Past performance of securities/instruments is not indicative of their future performance.