Aditya Birla Sun Life AMC launches ABSL Overnight Fund

Aditya Birla Sun Life AMC Limited launched Aditya Birla Sun Life Overnight Fund, an open-ended debt scheme investing in overnight securities.

The New Fund Offer (NFO) opens today and will close on November 1, 2018.

The fund will invest in the money market and debt instruments of one day maturity i.e. any given day the fund manager will invest the money in to the instrument with maturity upto one day. Owing to this strategy the fund carries no duration risk and no credit risk.


The scheme will have a regular plan and a direct plan with a common portfolio and separate NAVs. Each of the plans under the scheme will have growth option, and dividend option (daily, weekly and monthly) with payout, reinvestment and sweep facility only in the monthly dividend option.
The scheme is benchmarked against CRISIL Overnight Index and will be managed by Kaustubh Gupta.

The AMC will calculate and disclose the first NAV(s) of the scheme not later than five business days from the date of allotment. Thereafter the NAV will be calculated and disclosed for every business day.