India Equity Services Fund, a close-ended equity AIF that invests systematically in large-cap, mid-cap and small-cap stocks, was launched by Aditya Birla Sun Life AMC Ltd. and Investments, a subsidiary of Aditya Birla Capital Ltd. has gone. Aditya Birla Manager of Sun Life Mutual Fund. This Alternative Investment Fund (AIF) specializes in service-based companies and has a closed investment window.
Over time, the participation of the services sector has grown tremendously both internationally and in India. The fund seeks to invest in companies with a service-driven business model or top service sector companies that are ideally positioned to benefit from catalytic and secular growth in the service industry. India’s services sector now accounts for 48% of GDP, up from 43% over the past two decades.
Highlights of India Equity Services Fund
Here are the key details of 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 India Service Sector Index. It captures the universe of the service sector without relying too much on the banking and IT sector. The service sector includes – retail, healthcare, telecommunications, tourism and hospitality, transportation and logistics, apart from financial services and IT.
3. It is suitable for long term equity investors with high risk tolerance and investment horizon of at least 5 years.
4. The fund will invest in a high quality multi-cap portfolio to substantially reduce the downside risk.
Balasubramaniam, MD & CEO, Aditya Birla Sun Life AMC Ltd. said, “The contribution of the services sector not only globally but also in India has grown significantly over the years. The share of India’s services sector as a percentage of GDP has increased from 43% to 48% over the past 2 decades, while the share of the services sector in GVA has increased from ~36% to ~53% since 1951. The Indian services sector is full of opportunities, and investors can take advantage of a multi-cap portfolio by investing in this fund. India Equity Service Fund is in line with our investment philosophy, focused on growth, superior return ratio and reliable management.”
Aditya Birla Sun Life AMC posted 11% per annum in profit after tax of Rs. 191.68 crore for Q2FY23 as compared to Q2FY22. 173.07 crore Aditya Birla Sun Life AMC’s net income up 4% for the quarter ended Sept. 387.66 crore from 372.2 crore posts in the year-ago quarter.
catch all Mutual Fund News And updates on Live Mint. download mint news app To get daily market updates & Live business News,