• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Port Info

• Ships in Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mr Raghvendra Nath (left), Vice-President - Strategy & Business Development, Birla Sun Life Mutual Fund, with Mr Nishid Shah, Chief Investment Officer-Equity, at a press conference in Mumbai on Thursday. - Shashi Ashiwal

Mumbai , June 2

BIRLA Sun Life Mutual Fund is betting on the consumption spree that Generation Next is expected to indulge in for its new equity fund. The Birla India GenNext Fund is a thematic fund that targets equities of companies that are expected to benefit from the consumption habits of the young generation in India.

Investments by this fund would be in sectors such as automobiles, travel and tourism, healthcare, banking, retailing and housing, among others.

The logic behind the fund is the fact that 54 per cent of Indians are less than 25 years old and that 25 per cent of the world's youth live in India, said Mr Nishid Shah, Head (Equities), Birla Sun Life AMC.

The fund would invest in companies that garner at least 50 per cent of their revenues from sales to end-customers. These companies should also have a strong brand identity, Mr Shah said.

The initial offer of the fund is open from June 14 to July 12. The scheme offers dividend and growth options and the minimum application amount is Rs 5,000.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Kotak Mahindra launches contra fund

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line