Asset management firm (AMC) Aditya Birla Sun Life Mutual Fund (ABSLMF) said on Tuesday that its business cycle fund had garnered more than ??2,200 crore during the New Fund Offer Period (NFO), making it one of the largest funds in the category. The fund also received over 1,17,800 requests during the phase.
The Aditya Birla Sun Life Business Cycle Fund, an equity program that follows an investment theme based on the economic cycle, was open for subscription from November 15 to 29. Since this is an open-ended fund, the program has reopened for subscription.
Speaking on the interest received, A Balasubramanian, Managing Director and CEO of ABSLMF, said :, B30 and emerging markets. “
“Economic activity is accelerating after the disruption caused by the pandemic. And as the economy oscillates between these phases of contraction and expansion, it opens up investment opportunities in different sectors. Our fund seeks to identify these investment opportunities and manage the allocation through various economic cycles, ”he added.
The fund managers of the program are Vineet Maloo, Nitesh Jain and Vinod Bhat (for overseas investments).
According to the fund’s management company, Aditya Birla Sun Life Business Cycle Fund takes into account both macroeconomic phases and industry-specific developments in its investment strategy.
Through dynamic allocation between various sectors and market capitalizations, ABSL Business Cycle Fund aims to provide long-term capital appreciation to risk-aware equity investors.
Without sector and market capitalization bias, the business cycle fund will seek to actively identify investment opportunities and manage allocation through various business cycles to generate returns.
Another AMC, ICICI Prudential Mutual Fund, launched a business cycle fund earlier this year. According to data available with ValueResearchOnline, ICICI Prudential Business Cycle Fund has assets under management of ??5,959 crore as of November 30 and has generated a return of 22.30% since its launch in January 2021.
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