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Aditya Birla Sun Life Mutual Fund launches Multi-Index Fund Of Funds


NEW DELHI: Aditya Birla Sun Life AMC Limited, a subsidiary of Aditya Birla Capital Limited and an investment manager to Aditya Birla Sun Life Mutual Fund, has announced the launch of a Multi-Index Fund of Funds (FoF) NFO, an open-ended fund of funds that invests in ETFs and Index Funds.

A fund of funds invests in units of another mutual fund scheme and a multi-index fund of funds will invest in passively managed instruments such as ETFs and Index Funds of equity and equity-related instruments (domestic index funds & ETFs as well as overseas ETFs ), fixed income securities, gold / silver.

According to the fund house, a multi-index fund of funds is an in-house model that determines asset allocation to invest in the apt themes across the industry. Equity exposure can help provide growth and diversification, debt can help provide stability while gold and silver can act as a hedge against any macro risk. All of this is at a low cost due to investments in passive funds, the press release added.

The Aditya Birla Sun Life Multi-Index FoF will be available for subscription from 26 September to 10 October.

Commenting on the launch, A. Balasubramanian, managing director & CEO, Aditya Birla Sun Life AMC, said, “Our multiple funds help investors take exposure in various stocks/sectors while our fund of funds will help investors to select among the many schemes available at the same time. A multi-index fund of funds, therefore, is a simple, all-weather solution providing flexibility to the money manager to invest in passively managed ETFs and Index Funds across asset classes ranging from equity to debt to precious metals. The fund of funds provides the convenience of investing at a reasonable cost and is tax efficient.”

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