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ABSL Mutual Fund launches Aditya Birla Sun Life PSU Equity Fund

ABSL Mutual Fund launches Aditya Birla Sun Life PSU Equity Fund

Finance
Aditya Birla Sun Life Mutual Fund has launched the Aditya Birla Sun Life PSU Equity Fund, an open-ended equity scheme that will follow the PSU theme. According to a press release, the new scheme will focus on investing predominantly in Public Sector Undertakings (PSUs) or companies where the government is a majority shareholder with at least 51% shareholding. The new fund offer is open for subscription. It will close for subscription on December 23. The minimum application amount required is Rs 500 and in multiples of Re 1 thereafter, during the New Fund Offer period. The fund house said they believe that the PSUs which dominate many key sectors of the economy would grow in the coming time, especially in industries where setting up a new business unit requires huge capital, regulatory cl...
Aditya Birla Health Insurance targets 80 per cent growth

Aditya Birla Health Insurance targets 80 per cent growth

Finance
KOLKATA: Aditya Birla Health Insurance, a part of Aditya Birla Capital, is expecting to grow its business by 80 per cent during the current financial year, a company official said on Tuesday. In the first half of this fiscal, the company's business stood at Rs 315 crore, which is 78 per cent higher compared to the previous first half. Last year, the company registered a business of Rs 500 crore. "The company is the fastest growing among health insurance companies in the country," CEO of Aditya Birla Health Mayank Bathwal told reporters here. The company came into existence three years ago, he said adding that 2021-22 is likely to be the break-even fiscal. "We expect to break-even by 2021-22. In the subsequent year, the company is expected to clock profits," Bathwal said. With a capital bas...
Aditya Birla Sun Life Retirement Fund collects Rs 166 crore

Aditya Birla Sun Life Retirement Fund collects Rs 166 crore

Finance
Aditya Birla Sun Life AMC Limited had launched the Aditya Birla Sun Life Retirement Fund on February 19, 2019. The fund has collected Rs 166 crore in its NFO period, attracting investors from 241 locations from across the country. The fund in its NFO period that was open for two weeks garnered 23,743 applications, 42% of which are from B30 cities (beyond Top 30 cities) alone. Close to 40% of the applications have come through the SIP route, with a significant portion of it in Century SIP, ABSL MF’s offering of SIP with a life cover. The fund has also achieved in adding over 7,000 new customers to its existing investor base. The fund offers four investment options designed as per suitability of various age groups and different risk profiles of an individual that includes – The 30s pla