Birla Sun Life Mutual Fund is launching a close ended income scheme, India Infoline reports. The Birla Sun Life Fixed Term Plan-Series DEto Series DS aims to generate income by investing in a portfolio of fixed income securities maturing on or before its duration. The scheme will invest 100% of assets in debt securities and money market instruments with low to medium risk profile.
The firm has also filed with the Security Exchange Board of India for the launch. The series will have the duration of 12-36 months from the date of allotment. It will have dividend and growth option. The scheme, which will track the CRISIL Short Term Bond Fund Index, will be managed by Kaustubh Gupta.
