Aditya Birla Sun Life Mutual Fund has collected over Rs 2,200 crore from over 1.18 lakh applications for its business cycle fund, which is an open-ended equity scheme following business cycle-based investing theme.
The fund was open from November 15-29, and was later reopened for subscription and has so far collected over Rs 2,200 crore, the fund house said without disclosing the current asset under management (AUM) of the fund.
A Balasubramanian, MD & CEO of Aditya Birla Sun Life AMC, said the fund has attracted over 1,17,800 applications, covering more than 10,500 pin codes across T30 (top 30 cities), B30 (beyond the top 30) and emerging markets.
With collection of over Rs 2,200 crore, it is one of the largest funds within this category of thematic schemes.
Economic cycles are divided into four phases -- expansion, peak, contraction and slump, which all impact the markets. This fund factors in both the macroeconomic phases, as well as the industry-specific developments in its investment strategy and through such dynamic allocation between various sectors and market-caps, the fund aims to provide long-term capital appreciation to risk-aware equity investors, he said.
Established in 1994, Aditya Birla Sun Life AMC, formerly known as Birla Sun Life AMC, is a joint venture between Aditya Birla Capital and Sun Life AMC Investments Inc. It had an AUM of over Rs 3.12 lakh crore for the quarter to September 2021.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)