Aditya Birla Sun Life Mutual Fund launches Aditya Birla Sun Life PSU Equity Fund

Chandigarh, December 9, 2019: 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) announced the launch of Aditya Birla Sun Life PSU Equity Fund, an open-ended equity scheme following PSU theme. This fund focuses on investing predominantly in Public Sector Undertakings (PSUs) or companies where the government (State or Central) is a majority shareholder with at least 51% shareholding. The fund is diversified in nature and focuses on long term growth and appreciation of capital. Commenting on the launch, A. Balasubramanian, MD & CEO, Aditya Birla Sun Life AMC Limited said: “PSUs typically dominate sectors that are core to the economy and its growth such as Utilities, Oil & Gas, Metals & Mining, Infrastructure, Defence, Engineering, Banking etc. Often, they have a monopolistic position or large scale, with strong Return on Equity (RoE) and steady cash flow from operations which allow them to give out high dividends. Many of these have characteristics of bluechips in their respective industries”.