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Paul Noronha

Mr Jim Rogers, Investment Expert, with Mr Pankaj Razdan, Deputy CEO, Financial Services, Aditya Birla Management Corporation Pvt Ltd, at the launch of Birla Sun Life Commodity Equities Fund in Mumbai on Friday. –

Our Bureau

Mumbai, Sept. 12 Birla Sun Life Asset Management Company Ltd announced the launch of ‘Birla Sun Life Commodity Equities Fund’ on Friday.

The investment objective of the open-ended commodity equity fund is to offer investors long-term capital growth by investing in securities of domestic and overseas commodity companies, including companies engaged in or focusing on the specified commodity business and/or overseas mutual fund schemes with similar investment objectives.

The fund will open for subscription from September 15and close on October 14.

The fund offers three plans — the Global Precious Metals Plan (benchmarked against Dow Jones Precious Metals Index), Global Agri Plan (benchmarked against S&P Global Agribusiness Index), and Global Multi Commodity Plan (benchmarked against MSCI World Index).

The fund will invest a minimum of 80 per cent of its assets in equities and equity-linked instruments, which includes 65-100 per cent investments in overseas securities, up to 35 per cent investments in Indian securities and up to 35 per cent asset allocation in overseas equity mutual funds.

The fund can allocate up to 20 per cent assets in debt securities and money market instruments.

The minimum application amounts under the retail and institutional plans are Rs 5,000 and Rs 5 lakh respectively.

More Stories on : New Fund Offer | General Insurance

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