Aditya Birla SL Bal Bhavishya Yojna NFO mops up 45,000 applications


Aditya Birla Sun Life AMCs NFO of ABSL Bal Bhavishya Yojna has attracted investors from 244 locations from across the country with 55% applications coming from B30 cities (beyond Top 30 cities) alone. The fund in its NFO period that was open for two weeks garnered 44, 661 applications, with close to 50% of which were through Systematic Investment Plans (SIPs) by investors.

The fund can be availed or gifted for just Rs. 1,000 and its sheer spread exhibits the maturity and appetite for long term disciplined investing from the Indian investor, irrespective of a lock-in commitment. The traction of a niche and solution oriented fund like this goes on to show that investors are interested in mutual fund solutions that address their specific needs. The idea is to encourage a disciplined long term approach towards investment, particularly as the corpus is to be used for a child’s future needs.

Speaking on the fund, A. Balasubramanian, CEO, Aditya Birla Sun Life AMC, said: “The proposition of ABSL Bal Bhavishya Yojna was successful in addressing the core need of investors, which is of financial security and to have a solution that secures their future from rising costs of many future needs, especially that of their children. It is even more encouraging to note that 55% of the applications have come from B30 markets, establishing the fact that the understanding of the need for long term financial planning is not just an urban phenomenon anymore. Rather this evolution is countrywide bringing more people into the fold of disciplined investments and future planning.”

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“At an AUM of close to Rs. 100 crore and an expected steady and substantial accrual in the form SIP, we are committed to growing this scheme by reaching out to more customers, given the target segment is very large and the benefit that could be accrued in the long run is also very huge,” Mr. Balasubramanian added.

The fund aims to help investors meet the future financial requirements for a child, like expenditure incurred towards higher education, career goals, marriage, for which the investment horizon would be over a longer period.





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