Aditya Birla Sun Life Multi-Cap Fund garners over Rs. 1900 crore and 88000 plus applications
Chandigarh, (Aditi) : Aditya Birla Sun Life AMC Limited, a subsidiary of Aditya Birla Capital Limited (a significant non-bank financial services’ conglomerate), and investment manager to Aditya Birla Sun Life Mutual Fund (ABSLMF) received 88000 plus applications garnering over Rs. 1900 crore for its new fund Aditya Birla Sun Life Multi-Cap Fund during its New Fund Offer period (NFO). An open ended equity scheme investing across large cap, mid cap & small cap stocks, the NFO was open between April 19, 2021 and May 3, 2021. The fund has reopened for subscription from May 10, 2021.
Speaking on the interest received by the fund, A. Balasubramanian, MD & CEO, Aditya Birla Sun Life AMC, said: “Despite the logistical challenges posed by the pandemic, we have attracted over 88000 applications covering more than 9600 pin codes across T30 and B30 markets. What is also noteworthy is the contribution coming from diversified channels across the board exhibiting our distribution strength as a fund house. Our technology strength has come in handy to beat the logistical constraints. We thank all our partners in making this a successful launch”.
“The interest received in this new fund is also a reflection of the growing appetite of equity investments in the country. The proposition of our Multi-cap fund is that it brings a curated combo of three focus portfolios. Investors have seen merit in the diversified proposition which allows them to have exposure in all three market caps giving them the stability of large cap while leveraging the growth potential of mid and small caps”, Balasubramanian added.
The Multi-Cap category is mandated to invest at least 25% in each of the three market cap segments of large, mid and small caps. This well-defined and disciplined market cap allocation helps invest in fast growing sectors and companies from across the spectrum in mid & small caps, while balancing out the risk reward proposition with relative safety of large caps. With a focused and bottom-up stock selection approach, the fund offers a well curated portfolio of high conviction stock ideas from the fund house. The fund is focused towards secular growth opportunities that cover a broad range of sectors and companies and enables healthy participation in the ensuing economic recovery.