Birla Sun Life Mutual Fund launches its funds on both NSE & BSE

Mumbai - December 9, 2009: This facility will enable BSLMF customers to have great accessibility and convenience by multiplying the reach of the fund house. Not just that, investors with a demat account would be able to view their mutual fund investments along with other listed schemes in their portfolio and hence get a consolidated view of their portfolio.

Speaking on the occasion, A Balasubramanian, CEO, Birla Sun Life Mutual Fund said "This is big leap in investor convenience as well the geographical presence for the fund house. This would also provide great convenience to the Trading Member in the form of a new platform". "BSLMF is celebrating the 15th foundation day this month with solemn commitment of continuing to serve our investors better and this is yet another step forward in that direction", Mr Balasubramanian said.

BSLMF schemes started trading on NSE since Thursday and on BSE since 4th December ..

BSLMF, with an average AUM of over Rs. 69,600 crores as on 30th November 2009, is amongst the largest fund houses in India . This extension of subscription and redemptions through Stock Exchange platform is an initiative that shall help it reach new investors beyond the own branches that the fund house operates. National Stock Exchange has more than 1,50,000 terminals across 1500 towns and cities while BSE has 25,000 Trader Workstations located across over 359 cities in India.

Terminals of brokers will be the official point of acceptance and hence the date of acceptance of the transaction will be the date of entering the request on the terminal. Investors will also have the added advantage of obtaining the same day's NAV (before 3 p.m.) at a large number of outlets i.e. more than 1500 towns and cities, including remote locations. The investors have an added advantage getting their units allotted in demat mode in addition to the existing physical mode as per their choice.

Source : Equity Bulls

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