Birla Sun Life Mutual Fund seeks SEBI nod for close ended equity scheme

Birla Sun Life Mutual Fund has filed offer documents with the Securities and Exchange Board of India seeking approval to launch Birla Sun Life Resurgent India Fund - Series 4 & 5. According to SEBI website, the close-ended equity scheme series will have a lock-in period of three years and six years.The investment objective of the scheme is provide capital appreciation by investing primarily in equity and equity-related securities that are likely to benefit from recovery in the Indian economy.

The scheme will invest at least 80 percent of its corpus in equity and equity-related securities including options premium, while the balance 20 percent will be deployed in money market and debt instruments, as per the draft offer document.

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