Aditya Birla Sun Life AMC collects nearly Rs 800 crore from transport & logistics fund NFO
Aditya Birla Sun Life AMC Ltd on Wednesday said it has collected nearly Rs 800 crore through its transport and logistics scheme during the new fund offering (NFO) period.
Aditya Birla Sun Life AMC Ltd on Wednesday said it has collected nearly Rs 800 crore through its transport and logistics scheme during the new fund offering (NFO) period.
The asset management company mobilised the amount from its thematic fund -- Aditya Birla Sun Life Transport and Logistics Fund -- during the NFO period from October 27 to November 10. The fund reopened for subscription on November 21.
The open-ended equity oriented thematic fund received a huge response from 53,777 investors and has garnered a total of Rs 798.89 crore, the company said in a statement.
"This fund is a unique offering that captures the growth potential of the transportation and logistics sector, which is a key driver of the Indian economy. The fund aims to provide long-term capital appreciation by investing in companies that are well-positioned to benefit from the structural changes and emerging trends in the sector," A Balasubramanian, Managing Director and CEO at Aditya Birla Sun Life AMC, said.
The company said that the transportation and logistics theme is vibrant and fast-growing and the theme has robust growth drivers on both the demand and supply side.
The transportation theme includes sectors such as automobiles and auto ancillary, while the logistics theme includes sectors like ports, warehousing/supply chain, e-commerce and allied sectors.
These sectors common to both themes would be shipping, railways, infrastructure and airlines.
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