Birla Sunlife AMC stated a 25% growth in Assets under Management (AUM) to reach Rs.4255.38 crores as on July 31, 2001, as against Rs. 3414.68 crores on March 31, 2001. This AUM include offshore funds as well.
The growth has been primarily aided by the inflow in its liquid scheme - Birla Cash Plus, which grew 160% since start of the financial year. The Assets under management for this scheme were Rs. 1038.97 crores as on July end as against Rs.399.56 crores as of March end.
In an effort to enhance the service standards and to provide best value to its investors in Birla Cash Plus, the Fund soon proposes to bring about new initiatives. Birla Cash Plus is the first liquid scheme launched in India, which offers the investors high safety and liquidity.
Besides Birla Cash Plus, all other debt funds, viz. Birla Income Plus, Birla MIP, and Birla Gilt Plus, aggregate Rs.2347.52 crores as on 31st July 2001.
Birla Mutual Fund is also planning to approach SEBI for launching a scheme called Birla Fixed Maturity Plan, which will provide an excellent investment option for people with a fixed period investment horizon. The primary objective of the scheme is to generate income through investments in debt and money market instruments, with a portfolio of fixed income securities normally maturing in line with the time profile of the respective plans. The scheme will offer quarterly, half-yearly and yearly options.