Thursday, November 12, 2020

Aditya Birla Sun Life Special Opportunities Fund Collects Rs. 409 Crore

Aditya Birla Sun Life AMC Limited, a subsidiary of Aditya Birla Capital Limited (a significant non-bank financial services’ conglomerate), and investment manager to Aditya Birla Sun Life Mutual Fund (ABSLMF) has collected Rs. 409 crore from its new fund offering Aditya Birla Sun Life Special Opportunities Fund (an open-ended equity scheme following special situations theme) during its NFO period between October 5 – 19, 2020. Attracting investors from across the country, the fund in its 2 weeks NFO period garnered over 44000 applications.

Speaking on the interest received by the fund, A. Balasubramanian, MD & CEO, Aditya Birla Sun Life AMC, said: “Despite the logistical challenges posed by the pandemic, we have attracted over 44000 applications from more than 360 locations. What is also noteworthy is the contribution coming from diversified channels across the board exhibiting our distribution strength as a fund house. Our technology strength has also come in handy to beat the logistical constraints. The interest received in this new fund is also a reflection of the growing appetite of equity investments in the country, further propelled by India’s potential of future growth. It must be noted that this is a thematic fund with a very unique and nuanced investment proposition, so it is encouraging to see this kind of participation and investor maturity. The timing of our launch was perfect, some of which we are already seeing play out in the markets and we believe there are several unique opportunities to leverage going forward”.

Events like change in management, business restructuring, mergers & acquisitions, Government policy change, regulatory changes, disruption due to a new entrant, macro-economic changes, geo-political developments, global events etc., can create special situations in a market, business, sector or company and thus special opportunities for investment. It is a wide range of possibilities and the Fund is well positioned to play these themes and special opportunities emerging in recent times like Atmanirbhar Bharat, Covid led Disruptions, massive digital adoption, Government’s disinvestment plans, changes in lifestyle and consumption patterns, technology upgrade, and others. Aditya Birla Sun Life Special Opportunities Fund looks at spotting these very opportunities.

The fund is managed by Senior Fund Manager Anil Shah who brings with him nearly three decades of experience in equity research and investments. The fund management team also includes Chanchal Khandelwal and Vinod Bhat.

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