MUMBAI:
Aditya Birla Sun Life AMC Limited, a subsidiary of Aditya Birla Capital Limited, and investment manager to Aditya Birla Sun Life Mutual Fund (“ABSLMF”), has launched the Aditya Birla Sun Life Retirement Fund, an open- ended retirement solution oriented scheme for investors. The fund has a lock-in period of minimum five years or till retirement age, whichever is earlier.
The fund aims to help investors plan their retirement efficiently with four asset allocation plans to suit various age groups and different risk profiles of an individual. This is a solution oriented scheme and will help an investor plan his retirement smoothly, through the various phases of financial planning.
Commenting on the launch, A. Balasubramanian, CEO, Aditya Birla Sun Life AMC, said: “Aditya Birla Sun Life Retirement Fund provides investors an investment solution to plan their retirement from as early as in their 30s to factor in the rising cost of living. Efficient retirement planning is extremely important to manage future expenses and an investment option like this will help one spend the golden years of your life in peace.”
The fund offers four investment options designed as per suitability of various age groups and includes – The 30s plan with 80-100 % of the corpus invested in equity and equity related instruments and the rest in debt and money market instruments. The 40s plan has a flexible equity exposure between 65-80% and the 50s plan has a flexible debt exposure in the range of 75-100%. In addition to these, there is a 50s Plus Debt Plan for those nearing retirement age, which invests up to 100% in debt and money market instruments.
The fund will be managed by Ajay Garg and Pranay Sinha and has no exit load.
