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Aditya Birla Sun Life Mutual Fund has garnered over ₹2,200 crore from its Business Cycle Fund new fund offer.
The open-ended equity scheme follows a business-cycle based investing theme. During the NFO period, the fund received 1,17,800 applications. The NFO closed on November 29. The fund has reopened for subscription.
A Balasubramanian, Managing Director and CEO, Aditya Birla Sun Life AMC, said the collection makes it one of the largest fund in this category of thematic schemes.
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Currently, economic activity is picking pace after pandemic-led disruptions. And as the economy swings between contractionary and expansionary phases, it opens up investment opportunities in different sectors. The fund looks to identify these opportunities and manage allocation through various business cycles, he said.
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Through a dynamic allocation between various sectors and market-caps, Aditya Birla Sun Life Business Cycle Fund aims to provide long-term capital appreciation to risk-aware equity investors.
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