Aditya Birla AMC eyes Rs 500cr from new scheme in NFO period

Aditya Birla Sun Life Asset Management Company is looking at mopping up Rs 500 crore from Resurgent India Fund-Series 5 during its NFO period itself.
Resurgent India Fund-Series 5 is a close-ended equity scheme with a tenure of 3.5 years.
The new fund offer (NFO) opened for subscription on September 20 and will close on October 4 with the scheme available at a face value of Rs 10 per unit.
The scheme will have regular and direct plans with a common portfolio and separate NAVs. Each of the regular and direct plan will have growth and dividend option with payout and sweep facility.

"We are looking at mopping up Rs 500 crore from Resurgent India Fund-Series 5 during the NFO period itself," Suraj Kaeley, group president, sales and marketing, Aditya Birla Sun Life AMC, told PTI here today.
"It is a diversified fund which looks at investing in sectors and stocks which are relatively undervalued," he added.
The fund aims to generate capital appreciation by investing primarily in equity and equity-related securities, that are likely to benefit from recovery in the country's economy.
The scheme will allocate around 80-100 per cent of assets in equity and equity-related securities and up to 20 per cent in money market and debt instruments.