Aditya Birla Sun Life AMC has garnered a commitment of ₹893 crore for its India Equity Services Fund, a close-ended Category III Alternate Investment Fund. The fund was launched on October 31, 2022, and closed on June 14.
The fund seeks to invest in companies, which are primed to benefit from the catalysts and secular growth in the services sector, with strong service-driven business models by leveraging in-house research for identifying leading companies in the service sector.
As of June 21, the fund has already deployed ₹504 crore in about 30 companies with a service-driven business strategy. Top sectoral bets of the fund include financial services, information technology, energy, services, FMCG and healthcare. The fund intends to construct and maintain a high-quality multi-cap portfolio to substantially reduce downside risk.
A Balasubramanian, Managing Director, Aditya Birla Sun Life AMC, said the services sector is the core growth engine of economy, and this fund serves as a platform for investors to become a part of the growth story.
The fund’s concentrated portfolio, coupled with flexible draw-down plans, empowers investors to navigate market volatility and mitigate the risk associated with timing the markets, he added.