Birla Sun Life Mutual Fund has announced a change in the investment pattern and asset allocation of Birla Sun Life Dividend Yield Plus with effect from December 17, 2012.
The scheme shall invest in equity stocks that have a high dividend yield meaning thereby the dividend yield which is greater than that of Nifty last published by NSE. Presently, the dividend yield is considered high if it is in excess of twice the yield of BSE Sensex.
Moreover, the scheme shall invest 65-100% in high dividend yield equity and equity related instruments, the scheme can invest a maximum of 35% in other equity and equity related instruments and 20% in debt and money market instruments. Presently, there is no lower limit for equity and equity related instruments and for cash and money market instruments, it is upto 10%.
Due to a change in the fundamental attributes, the unit holders are being given an option to exit the scheme from November 15, 2012 to December 14, 2012 without paying an exit load.