Birla Sun Life Mutual Fund has filed offer document with Securities and Exchange Board of India (Sebi) to launch Birla Sun Life Medium Term Plan. Rs 10 per unit will be the face value of the new issue. It is an open ended income scheme with a primary investment objective is to generate regular income through investments in debt & money market instruments in order to make regular dividend payments to unit holders & secondary objective is growth of capital.
The scheme will have retail and institutional plans dividend and growth option. Dividend option will have daily, weekly, fortnightly options with reinvestment facility. And monthly and quarterly dividend option with payout and reinvestment facility. The minimum investment amount under retail plan will be Rs 5000 and in multiples Re 1 thereafter and under institutional plan will be Rs 10000 and in multiples of Re 1 thereafter on an ongoing basis.
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You can’t open a newspaper or read a magazine without seeing ads promoting the stellar performance of “hot” mutual funds. But past performance is not as important as you may think, especially the short-term performance of relatively new or small funds. As with any investment, a fund’s past performance is no guarantee of its future success. Over the long-term, the success (or failure) of your investment in a fund also will depend on factors such as
the fund’s sales charges, fees, and expenses;
the taxes you may have to pay when you receive a distribution;
the age and size of the fund;
the fund’s risks and volatility; and
recent changes in the fund’s operations.
So, look at more than the fund’s past performance when making your investment decisions. Read the fund’s prospectus and shareholder reports
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