HomeOthersAditya Birla Sun Life Mutual Fund Launches Aditya Birla Sun Life Nifty...

Aditya Birla Sun Life Mutual Fund Launches Aditya Birla Sun Life Nifty India Defence Index Fund

The NFO will be open for subscription from 9th August 2024 to 23rd August 2024

The NFO provides an opportunity to arm the portfolio with India’s Defence Sector

Chandigarh, August 09, 2024: 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. The asset manager has announced the launch of the Aditya Birla Sun Life Nifty India Defence Index Fund, an open-ended index fund tracking the Nifty India Defence Index. The New Fund Offer (NFO) will remain open from 9th August 2024 to 23rd August 2024.

India’s defence sector is undergoing a significant transformation, driven by the government’s emphasis on self-reliance and modernization. With a defence budget of INR 6.22 lakh crore and projected 15% CAGR in capital expenditure from FY24-30, India is enhancing both military capabilities and economic resilience. The Aditya Birla Sun Life Nifty India Defence Index Fund offers investors an opportunity to participate in this industry momentum. By tracking the Nifty India Defence Index, the fund provides exposure to a diverse range of companies contributing to the nation’s defence capabilities. This includes players involved in manufacturing, aerospace, shipbuilding, and defence electronics.

Commenting on the new fund launch, A. Balasubramanian, Managing Director & CEO, Aditya Birla Sun Life AMC Ltd, said, “The government has significantly increased its investment in the defence sector to meet internal needs, reduce import dependence and produce for the rising global demand. The focus is on building resilience and enhancing the counter-capabilities of the country’s defence system. The sector features high barriers to entry due to its capital-intensive nature and the continuous evolution of product types. There is substantial market growth potential, given the low-cost base, and companies in this sector are expected to gain higher market share as demand surges.”

The fund offers long-term investors diversification through index-based investing, appealing to those interested in arming the portfolio with India’s defence sector driven by growing order books and government policy. With policy volatility expected to stabilize post-budget, strong sales and margin growth are driving valuations, supported by improved analyst ratings reflecting competitive moats. Ongoing government capex, supportive procurement policies, and growing export demand due to geopolitical factors bolster the sector’s prospects.

Disclaimer

The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.

For any legal details or query please visit original source link given with news or click on Go to Source.

Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.

If you are not willing to accept this disclaimer then we recommend reading news post in its original language.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular