Birla Sun Life Mutual launches India reforms fund

MUMBAI: Birla Sun Life Mutual Fund (BSLMF) on Tuesday said it has launched an open-ended equity scheme, Birla Sun Life India Reforms Fund, that will invest in companies that are expected to benefit from the economic reforms.

"The India Reforms Fund Scheme will be invested in multiple sectors at any point in time, which may be at different stages of reform. Our strategy is to maintain the fund exposure in sectors according to reform expected, announced or implemented in those sectors at that time," BSLMF CEO, A Balasubramanian, said.

"If the economy has to sustain, then reform will be an integral part of the developmental activities of the Government," he told reporters here. The scheme would invest across sectors such as IT, education, retail and telecom, among others, he said.

The NFO of units of Rs 10 opened for subscriptions on May 10 and would close on June 9.

Benchmarked against S&P and CNX 500 index, the fund offers both growth and dividend options with a minimum application of Rs 5,000.