Aditya Birla Sun Life AMC Limited, a subsidiary of Aditya Birla Capital Limited, an investment manager to Aditya Birla Sun Life Mutual Fund (ABSLMF) has garnered a commitment of Rs 893 crore for its India Equity Services Fund, a close-ended Category III Alternate Investment Fund. The fund was launched on 31st October, 2022 and closed on 14th June, 2023.
The Fund seeks to invest in companies, which are primed to benefit from the catalysts and secular growth in the services sector, with strong service driven business models by leveraging in-house research for identifying leading companies in the service sector.
The fund has already deployed Rs 504 crore as of 21st June, 2023 across 30+ companies with a service-driven business strategy. Top sectoral bets of the fund include Financial Services, Information Technology, Energy, Services, FMCG & Healthcare. The fund intends to construct and maintain a high-quality multi-cap portfolio to substantially reduce downside risk.
A. Balasubramanian, Managing Director and CEO, Aditya Birla Sun Life AMC Ltd, said, “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 possess 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.”