BackAditya Birla Sun Life AMC debuts India Equity Services Fund: Check key takeaways
The India Equity Services Fund, a close-ended equity AIF that invests systematically in large-cap, mid-cap, and small-cap stocks, has been launched by Aditya Birla Sun Life AMC Limited
PremiumThe India Equity Services Fund, a close-ended equity AIF that invests systematically in large-cap, mid-cap, and small-cap stocks, has been launched by Aditya Birla Sun Life AMC Limited, a subsidiary of Aditya Birla Capital Limited and investment manager for Aditya Birla Sun Life Mutual Fund. This Alternative Investment Fund (AIF) specialises in service-based companies and has a closed investment window.
Over time, the service sector's involvement has grown tremendously both internationally and in India. The fund seeks to invest in companies with service-driven business models or top service sector companies that are ideally positioned to profit from the catalysts and secular development in the services industry. India's service sector now accounts for 48% of GDP, up from 43% over the past two decades.
Key takeaways of India Equity Services Fund
Here are the key details of the AIF as per Aditya Birla Sun Life AMC
1. Indian Equity Services Fund AIF is designed to capture the performance of companies with a service-driven business strategy.
2. The fund is benchmarked to the India Service Sector Index. It captures the service sector universe without relying heavily on Banking & IT Sector. The service sector includes – Retail, Healthcare Services, Telecom, Tourism & Hospitality, Transportation & Logistics besides Financial Services and IT.
3. It is suitable for long-term equity investors with a high-risk tolerance and an investment horizon of at least 5 years.
4. The fund will invest in high-quality multi-cap portfolios to substantially reduce downside risk.
Balasubramanian, MD & CEO, Aditya Birla Sun Life AMC Limited said, “the contribution of theservice sector has increased significantly over the years not only globally but also in India. India’s share of service sector as percent of GDP increased to 48% from 43% in the last 2 decades while share of service sector in GVA has grown to ~53% from ~36% since 1951. The Indian service sector is full of opportunities, and investors can get the benefits of a multi-cap portfolio by investing in this fund. The India Equity Service Fund is in line with our investment philosophy, which focuses on growth, superior return ratio, and credible management."
Aditya Birla Sun Life AMC showed growth in profit after tax of 11% YoY to Rs. 191.68 crore for Q2FY23 compared to Q2FY22 of Rs. 173.07 Cr. In the quarter that ended in September, Aditya Birla Sun Life AMC's total income grew by 4% to ₹387.66 crore from ₹372.2 crore posted in the year-ago quarter.
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