Birla Sun Life AMC adds glitter to investor's portfolio
25th April, 2011
Birla Sun Life AMC launches a Gold ETF
Birla Sun Life Asset Management Company Limited (BSLAMC), one of India's top five AMCs as per average AUM as of quarter ending March 31, 2011, has launched Birla Sun Life Gold ETF, an open-ended gold exchange traded fund. The New Fund Offer closes on 9 May, 2011 and has a window of 15 days.
Mr. A Balasubramanian, CEO, BSLAMC said: "This new product offers multiple benefits to the investors seeking to diversify their portfolio through investment in gold. In the last few years, there has been increased trend of investing in gold ETF as part of broader asset allocation to various asset classes."
"The scheme will add stability to investor's portfolio as gold has historically been a
hedge against inflation through appreciation in value." he added.
The investment objective of the fund is to generate returns that are in line with the
performance of gold. The scheme has transparent pricing and charges no wealth tax as compared to investment in physical gold. The fund will allow the investors to reap the benefits of investing in gold with no storage and security issues making it convenient to have their gold holding in the electronic format. The fund route is ideal for accumulation as minimum lot size to trade is one unit of Gold ETF, which is approximately equal to one gram of Gold.
The minimum application amount is Rs 6,000 and in multiples of Rs 2,000 thereafter
per application. The units of the scheme will be traded in dematerialised form and will charge no entry or exit load. The scheme is open to all categories of investors and provides for quick and convenient dealing through Demat accounts. The fund invests in gold with 99.5 per cent purity sourced from London Bullion Market approved refineries.
The units of the scheme will be listed on the National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange Limited (BSE) and can be purchased and sold through the stock exchange on any trading day. Investors shall also have the option to convert to physical gold provided by certain vendors.
About Birla Sun Life Asset Management Company Ltd.
Established in 1994, Birla Sun Life Asset Management Company Limited (BSLAMC) is a joint venture between Aditya Birla Group, a well known Indian conglomerate and Sun Life Financial Inc, leading international financial services organization from Canada.
BSLAMC is the fifth largest asset management company in India with average assets under management of Rs 63,696 crore for the January - March 2010 quarter. An impressive mix of reach through 103 branches, wide range of product offerings across equity, debt, balanced as well as structured asset classes and strong investment performance has helped the Company garner over 2.4 million investor scheme accounts. Known for its consistent investment performance, BSLAMC has received recognition from various institutes of international repute like Lipper and The Asset Magazine - Hong Kong.
About Aditya Birla Financial Services Group (ABFSG)
The Aditya Birla Financial Services Group (ABFSG) has built a significant presence across its verticals, viz life insurance, asset management, NBFC, private equity, broking, general insurance advisory services and wealth management & distribution.
The ABFSG is committed to being a leader and role model in a broad based and integrated financial services business. Its seven lines of businesses, with about 5.5 million customers, manage assets worth USD 20 billion approximately. It prides itself for having a talent pool of over 15,000 committed employees.
ABFSG has its wings spread across more than 500 cities in India through over 1600 points of presence and about 200,000 channel partners. This allows ABFSG to offer its customers virtually anything other than a savings or current account. With revenue of over USD 1.25 billion (in 2009-2010) ABFSG is a significant non bank player.
ABFSG is a part of Aditya Birla Nuvo Ltd (ABNL), a USD 3.5 billion conglomerate having leadership position across its manufacturing as well as services sector businesses. ABNL is a part of the Aditya Birla Group, a USD 30 billion Indian business house operating in 27 countries across the globe.
About Sun Life Financial Inc.
Sun Life Financial is a leading international financial services organisation providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of September 30, 2010, the Sun Life Financial group of companies had total assets under management of $455 billion.
For more information please visit www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
For Details : Nishant Gehlot : 9702700333: firstname.lastname@example.org
Statutory Details: Constitution: Birla Sun Life Mutual Fund has been set up as a Trust under the Indian Trust Act, 1882. Sponsor Aditya Birla Financial Services Private Limited and Sun Life (India) AMC Investments Inc. [liability restricted to seed corpus of Rs.1 Lac] Trustees: Birla Sun Life Trustee Company Pvt. Ltd. Investment Manager: Birla Sun Life Asset Management Company Ltd. Risk Factors: Mutual Funds and securities investments are subject to market risks and there can be no assurance or guarantee that the objective of the Scheme will be achieved. As with any investment in securities, the NAV of the Units
issued under the Scheme may go up or down depending on the various factors and forces affecting capital markets and money markets. Past performance of the Sponsor / Investment Manager / Mutual Fund does not indicate the future performance of the Schemes and may not necessarily provide a basis of comparison with other investments.
# Birla Sun Life Asset Management Company Ltd. (BSLAMC) shall, for the convenience of unitholders, endeavor to provide the updated list/details of the vendor/s to facilitate such arrangement/s between the Unit holder and the vendor/s. The Unitholders may opt to enter into the arrangement/s with the Vendor, on such terms as may be mutually agreeable between the unit holder and vendor. The Unit holder agrees and acknowledges that neither Birla Sun Life Mutual Fund, its Trustees, nor BSLAMC shall, in any manner whatsoever, be responsible and/or liable with respect to, or in connection with, any such arrangement/s.