Birla Sun Life MF launches new fixed term plan

Birla Sun Life MF has rolled out a scheme called Birla Fixed Term Plan Series AA and which is a close end income scheme. The Scheme will have duration of 370 days from the date of allotment. The scheme seeks to generate current income by investing in a portfolio of fixed income securities maturing normally in line with the duration of the scheme. The fund will invest up to 100% in debt securities and money market instruments. The investment in securitised debt can be up to 100% of the net asset of the scheme. The Scheme will have retail plan and institutional plan with a common portfolio. Each plan under the scheme will have dividend and growth option. The dividend option shall have payout and reinvestment facility.