The Hindu Business Line : Fund Update

Birla Sun Life Equity Fund has launched an open-ended diversified equity scheme that would invest in international stocks. The fund, named Birla Sun Life International Equity, has two options of investments — Plan A and Plan B. While Plan A would invest exclusively in international stocks, Plan B would invest in a blend of domestic and international stocks, with the flexibility to invest across market capitalisation segments.

The international portfolio would aim at geographical diversification by investing in high-growth stocks and benefit from low correlation between some countries. Under Plan A, 90-100 per cent of the assets will be invested in foreign equity and equity related instruments and 0-10 per cent in fixed income and money market instruments. Under Plan B, out of the equity investments of 90-100 per cent, 65-75 per cent would be in Indian securities and 25-35 per cent in foreign securities.

Debt component limit is the same as Plan A. While the benchmark for plan A would be S&P Global 1200, the benchmark for Plan B would be customised by using BSE 200 to the extent of 65 per cent of the portfolio and S&P Global 1200 to the extent of 35 per cent. The new fund offer is open for subscription between September 17 and October 16. Dividend and growth options are available under the scheme.

ABN Amro Equity Fund has revised its exit load structure with effect from September 12. The fund will charge an exit load of 1 per cent for investment less than Rs 5 crore if the units are redeemed within six months from the date of allotment.

ICICI Prudential Mutual has announced a dividend of 6 per cent under ICICI Prudential Equity & Derivative Fund — Wealth Optimiser Plan. The record date for the dividend is September 18.

DBS Chola Mutual has extended the offer period for its DBS Chola Interval Income Fund - Monthly Plan A to September 17 from the earlier date of September 13.

UTI Mutual has declared a dividend of 8 per cent under UTI Dividend Yield Fund. Record date for the same is September 17.

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