Mumbai, Sept 23: Birla Sun Life AMC has joined the growing list of funds to launch gilt schemes. The fund launched its open-ended gilt fund, Birla Gilt Plus on Thursday. The fund will invest exclusively in government securities. The fund will be open for initial subscription from September 23 to October 11.``Gilts will always play be a signficant asset class in their own right. and the fund will complete our range of income offerings for the time being,'' said Jeremy Beswick, CEO, Birla Sun Life AMC.
The fund offers three plans to investors. The liquid plan will invest insecurities with shorter maturity and will be ideal for investors who want to park their funds for less than one year. The investment plan will have aportfolio of gilts with maturity of one to three years. The long-term plan is ideally suited for PFs and gratuity funds with a long-term investment horiaon. Each of the plans will have dividend and growth options. The initial subscription amount is Rs 3000. The fund provides systematic investment and withdrawal plans.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.