Accordingly, the proposed changes are:
Scheme name: Aditya Birla Sun Life Banking & PSU Debt Fund
Type of scheme: An open-ended income scheme
Investment objective: The scheme to generate reasonable returns by primarily investing in debt & money market securities that are issued by Banks, Public Sector Undertakings (PSUs) and Public Financial Institutions (PFIs) in India.
The scheme will invest 80%-100% of assets in debt & money market instruments issued by scheduled commercial banks, public sector undertakings (PSUs) & Public Financial Institutions (PFIs) with medium to high risk profile and invest upto 20% of assets in debt (including government securities) and money market instruments issued by entities other than the non-banking, non PSU part of the portfolio will have exposure to companies from the private sector with low to medium risk profile. Debt including investments in securitized debt upto 50% of the net assets except foreign securitized debt.
Benchmark: CRISIL Short Term Bond Fund Index.
Existing investors have an option to exit without payment of exit load between 07 October 2017 and 06 November 2017.
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