Aditya Birla Sun Life Quant Fund NFO collects over Rs 2,400 crore

Aditya Birla Sun Life Quant Fund’s new fund offer (NFO) has collected Rs 2,416 crore from investors. The scheme is an open-ended equity scheme following a Quant-based investment theme. Aditya Birla Sun Life Quant Fund received responses from 1,23,762 investors.

The scheme's NFO was open from June 10 to June 24. Allotment for the fund took place on June 28, followed by its reopening for subscription on July 1.
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“We are delighted with the response we have received for our quant fund offering and appreciate the faith and unwavering support of our valued investors and distributors who played a crucial role in making this NFO a success. Their trust in our vision and commitment has been instrumental in this achievement. The investors and distributors are at the heart of our efforts, and it is their confidence in our capabilities that inspires us to continually innovate and excel,” said A Balasubramanian, MD and CEO, Aditya Birla Sun Life Mutual Fund.

He added, “This fund is aimed at leveraging the combined strengths of human expertise and quantitative models to provide investors with a differentiated investment solution. The Aditya Birla Sun Life Quant Fund is a unique and differentiated offering powered by tech and guided by wisdom. We believe this fund will offer a strategic opportunity to our investors with valuable advantages such as improved transparency, emotion-free decision making, and robust risk management.”

The success of the Aditya Birla Sun Life Quant Fund NFO highlights the increasing interest among investors and distributors in innovative, technology-driven investment solutions. This reaffirms ABSLAMC's dedication to delivering superior value and performance to its investors, states the fund house's press release.

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The fund will be benchmarked against Nifty 200 TRI. The scheme will be managed by Harish Krishnan.

The investment objective of the scheme is to achieve long-term capital appreciation by investing in equity and equity-related securities based on quantitative model themes. The minimum investment amount is Rs 500 and in multiples of Re 1 thereafter.

For redemption or switch-out of units within 90 days from the date of allotment, an exit load of 0.50% applies. After 90 days from the date of allotment, no exit load will be charged.

The scheme will invest 80-100% in equity and equity-related instruments based on the quant model theme, 0-20% in equity and equity-related instruments other than the quant model theme, 0-20% in debt and money market instruments, and 0-10% in units issued by REITs and InvITs.