ABSL Retirement FundAditya Birla Sun Life AMC said on Monday its Aditya Birla Sun Life Retirement Fund has collected Rs 166 crore in its NFO period, attracting investors from 241 locations from across the country.

The fund in its NFO period that was open for two weeks garnered 23,743 applications, 42% of which are from B30 cities (beyond Top 30 cities) alone. Close to a 40% of the applications have come through the SIP route, with a significant portion of it in Century SIP, ABSLMF’s offering of SIP with a life cover. The fund has also achieved in adding over 7,000 new customers to its existing investor base.

Also read our NFO review – NFO Review: Aditya Birla Sun Life Retirement Fund, A Plan For All Ages

The fund offers four investment options designed as per suitability of various age groups and different risk profiles of an individual that includes – The 30s plan with 80-100 % of the corpus invested in equity and equity related instruments and the rest in debt and money market instruments. The 40s plan has a flexible equity exposure between 65-80% and the 50s plan has a flexible debt exposure in the range of 75-100%. In addition to these, there is a 50s Plus Debt Plan for those nearing retirement age, which invests 100% in debt and money market instruments.

A. Balasubramanian, CEO, Aditya Birla Sun Life AMC, said: “The most interesting insight coming from Aditya Birla Sun Life Retirement Fund is that the maximum applications have come for the 30s plan. This is a clear indication of the maturity of investors who understand the importance of long term financial planning at an early age and are ready to stay on course through disciplined investments.”

Author
Kumar Shankar Roy

Kumar Shankar Roy is contributing editor with RupeeIQ. He can be contacted on contact@rupeeiq.com