BSL launches India Reforms Fund

Birla Sun Life Mutual Fund has announced the launch of its Birla Sun Life India Reforms Fund. It is an open-ended equity fund.

The fund will build a portfolio of companies that are expected to benefit from the economic reforms, PSU divestment and increased government spending. The fund will invest up to 100 per cent in equities while it may allocate up to 35 per cent of its assets in debt.

Some of the sectors in which the fund will invest are oil and gas, banking and financial services, utility companies, fertiliser, power equipment and transmission and so on.

The fund will be managed by Ankit Sancheti who has over 10 years of experience in equity research and fund management. It fund will be benchmarked against S&P CNX 500. The fund offers both growth and dividend option.

The minimum application amount will be Rs 5,000. One per cent exit load will be applicable if redeemed within one year while no exit load will be applicable if redeemed after one year. The new fund offer (NFO) will open on May 10, 2010 and close on June 9, 2010.