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Birla Sun Life Asset Management has launched an open-ended exchange traded fund based on the S&P CNX Nifty–Birla Sun Life Nifty ETF. The new fund offer for the Nifty ETF, which opened on Monday, will close on July 18, said a release from the fund house.
“Given that the Nifty is well diversified and gives exposure to a wide range of sectors, this Fund can provide long-term stability to investor,” said Mr A Balasubramanian, CEO, Birla Sun Life Asset Management. The minimum application amount for the fund will be Rs 5,000 and in multiples of Rs 1,000, thereafter, said the release.
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