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Aditya Birla Sun Life AMC Limited Raises INR 893 cr for its India Equity Services Fund The fund closed on June 14th, 2023 and has already deployed an amount of INR 504 crore as of June 21st to 2023 across 30+ companies in the sectors of Financial Services, Information Technology, Energy, Services, FMCG, and Healthcare.

By Paromita Gupta

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Aditya Birla Sun Life AMC Limited, a subsidiary of Aditya Birla Capital Limited & Sun Life (India) AMC Investments Inc and the investment manager of Aditya Birla Sun Life Mutual Fund, announced it had raised INR 893 crore for its October 31st, 2022 launched fund India Equity Services Fund, a close-ended Category III Alternate Investment Fund.

The fund closed on June 14th, 2023 and has already deployed an amount of INR 504 crore as of June 21st to 2023 across 30+ companies in the sectors of Financial Services, Information Technology, Energy, Services, FMCG, and Healthcare.

"The services sector is the core growth engine of our economy, and this fund serves as a platform for investors to become a part of India's growth story. It is particularly well-suited for individuals seeking long-term investing gains and possesses a moderate to high-risk tolerance. The fund's concentrated portfolio, coupled with flexible drawdown plans, empowers investors to navigate market volatility and mitigate the risk associated with timing the markets," shared A. Balasubramanian, Managing Director and CEO, Aditya Birla Sun Life AMC Ltd.

With 8.05 million investors in its folio, ABSLAMC is present in 290+ locations in the country and boasts of an AUM of over INR 2,862 billion as of March 31st, 2023, under its suite of mutual funds (excluding our domestic FoFs), portfolio management services, offshore and real estate offerings.

Earlier this week, Aditya Birla Sun Life Mutual Fund shared it was merging Aditya Birla Sun Life International Equity Fund - Plan B and Aditya Birla Sun Life Commodity Equities Fund - Global Agri Plan into one scheme- Aditya Birla Sun Life International Equity Fund – Plan A.

Paromita Gupta

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 
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