Birla Sunlife Nifty ETF details

Mutual Funds | admin | July 16, 2011 at 9:32 am

Birla Sun Life Asset Management has launched a new scheme 'Birla Sun Life Nifty ETF', which is an open ended Nifty-linked exchange traded fund.

The scheme will remain so till July 18, has an objective to provide returns that closely correspond to the total returns of securities as represented by S&P CNX Nifty (Nifty).

"Birla Sun Life Nifty ETF reinforces our existing range of financial solutions that are aligned with investor needs. Given that Nifty is well diversified and gives exposure to a wide range of sectors, this Fund can provide long term stability to investors," Birla Sun Life Asset Management Chief Executive Officer A Balasubramanian.

In an exchange traded fund, investors can buy and sell their units on the National Stock Exchange like equity shares.

The scheme that offers only growth plan, has a minimum subscription amount of Rs 5000, and in multiples of Rs 1,000.

Birla Sun Life AMC has Rs 67,475 crore average assets under management as on June 30, according to the data provided by Association of Mutual Funds in India.

Source: Economic Times

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