Mumbai, November 20, 2023: Aditya Birla Sun Life AMC Limited (ABSLAMC), a subsidiary of Aditya Birla Capital Limited and investment manager for Aditya Birla Sun Life Mutual Fund, collected nearly Rs 200 crore for its Aditya Birla Sun Life US Treasury Bond ETFs Fund of Funds NFO from 16th October 2023 to 30th October 2023.
Aditya Birla Sun Life US Treasury 1-3 Year Bond ETFs Fund of Funds is suitable for investors with shorter investment horizon and who have a relatively conservative risk profile. Aditya Birla Sun Life US Treasury 3-10 Year Bond ETFs Fund of Funds is suitable for investors with long term investment horizon and who have a higher risk profile. The benefits of investing in these instruments include locking in multi decade high yields for long-term, adding duration to portfolio and an opportunity to earn capital gains.
Notably, when investing through Indian mutual fund schemes, the exposure is not treated as an overseas investment under the Liberalised Remittance Scheme (LRS) and there is no limit to investment value along with non-applicability of Tax Collected at Source (TCS) that makes this a compelling investment option. It also creates a currency hedge i.e. protects against INR depreciation. Lastly, asset class and geographical diversification can also be achieved by investing in these funds.
As per the current regulatory provisions, Mutual Funds can make overseas investments in Exchange Traded Fund (ETF(s)) subject to a maximum of US $ 300 million per Mutual Fund, within the overall industry limit of US $ 1 billion.
Commenting on US Treasury fund of funds NFO collection, A. Balasubramanian, Managing Director & CEO, Aditya Birla Sun Life AMC Ltd, said, "I am happy to share that almost 7000 investors have capitalized on this unique opportunity and invested in Aditya Birla Sun Life US Treasury Bond ETFs Fund of Funds NFO. At ABSLAMC we believe the Federal Reserve is unlikely to hike rates going forward and any increase in yields should be looked upon as an opportunity to buy US treasuries as rate cuts to start from end of next year or early 2025. I firmly believe this passive offering is an excellent tactical opportunity to diversify your investments in US denominated assets. Both funds are open for continuous investment being part of the open-ended product suite."
Aditya Birla Sun Life AMC Limited (ABSLAMC) was incorporated in the year 1994. Aditya Birla Capital Limited and Sun Life (India) AMC Investments Inc. are the promoters and major shareholders of the Company.
ABSLAMC is primarily the investment manager of Aditya Birla Sun Life Mutual Fund, a registered trust under the Indian Trusts Act, 1882. ABSLAMC also operates multiple alternate strategies including Portfolio Management Services, Real Estate Investments and Alternative Investment Funds. ABSLAMC is one of the leading asset managers in India, servicing around 7.89 million investor folios with a pan India presence across 290 plus locations and a total AUM of Rs. 3,235 billion for the quarter ending September 30, 2023 under its suite of Mutual Fund (excluding domestic FoFs), Portfolio Management Services, Alternative Investment Funds, Offshore and Real Estate offerings.
Aditya Birla Capital Limited (“ABCL”) is the holding company for the financial services businesses of the Aditya Birla Group.
With subsidiaries/JVs that have a strong presence across Protecting, Investing and Financing solutions, ABCL is a financial solutions group that caters to the diverse needs of its customers across their life cycle. Powered by about 42,000 employees, the businesses of ABCL have a nationwide reach with over 1,403 branches, more than 2,00,000 agents / channel partners and several bank partners
As of September 30, 2023, Aditya Birla Capital Limited manages aggregate assets under management of over Rs. 4 lakh Crore with a consolidated lending book of about Rs 1.09 lakh Crore through its subsidiaries and joint ventures.
Aditya Birla Capital Limited is a part of the Aditya Birla Group, which is in the league of Fortune 500. Anchored by an extraordinary force of over 187,000 employees belonging to 100 nationalities, the Group is built on a strong foundation of stakeholder value creation. With over seven decades of responsible business practices, our businesses have grown into global powerhouses in a wide range of sectors – metals, pulp and fibre, chemicals, textiles, carbon black, telecom, cement, financial services, fashion retail and renewable energy. Today, over 50% of Group revenues flow from overseas operations that span 41 countries in North and South America, Africa, Asia, and Europe.
Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of September 30, 2023, Sun Life had total assets under management of $1.34 trillion. For more information, please visit www.sunlife.com. Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF
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