This article explains about the new mutual fund scheme announced my Birla Sun Life Mutual Fund. The name of the new fund scheme is Birla Sun Life Capital Protection Oriented Fund – Series 1. It is close ended 27 month period investment options.
The highlight of this investment is, those who want to invest on the traditional deposits like Fixed deposit,etc. may choose this type of the fund as alternative. Because they invest 90% of the fund into high quality debt markets and remaining 10% will be invested into the equity market. It has less risk compare to the growth fund and also it gains good returns then bank fixed deposits. The following are the some of the important factors about this fund:
- It is close ended fund.
- New Fund Offer Opens: 5th February 2010
- New Fund Offer Closes: 5th March, 2010
- Asset allocation of Debt securities and Money Market Instruments: 80%-100%, Equities and Equity related instruments: 0%-20%.
- Rated AAA(so) by CRISIL
- The scheme shall have Growth Option only.
- The scheme will have duration of 27 months from the date of allotment. No redemption or repurchase shall be permitted prior to maturity of the Scheme. Investors wishing to exit may do so through stock exchange mode.
- Minimum of Rs 5,000/- and in multiples of Rs. 10 thereafter during the New Fund Offer period
- Here’s the best part of investing in this fund. When investing in traditional deposits, you can end up paying as much as 30.9% tax on your returns. However, in Birla Sun Life Capital Protection Oriented Fund – Series 1, you may have to pay as little as 10.3% tax as long term capital gains.
- You can download the application here.
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February 22, 2010 at 11:45 pm
So, You mean this fund give good returns than fixed deposits in banks with secure returns like bank fixed deposits right?
February 24, 2010 at 1:56 am
As per ur advice Birla Protection fund can be redeemed in the stock exchanges.. I didn’t ur point? is it that, Investor must have Demat a/c for applying the same.