Financial Daily from THE HINDU group of publications
Friday, Jun 25, 2004
Financial Daily from THE HINDU group of publications Friday, Jun 25, 2004 |
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Markets
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Asset Management Companies Birla Sun Life relaunches portfolio management Our Bureau
(Left) Mr S.V.Prasad, CEO, with Mr Nishid Shah, Vice-President - Investments, Birla Sun Life Mutual Fund, at a press conference held in Mumbai. - Paul Noronha
Mumbai , June 24 BIRLA Sun Life Asset Management Company on Thursday relaunched its portfolio management service. The fund would be available in four options: high dividend yield, moderately aggressive, aggressive and custom. The service, christened Privileged Account Service, currently has Rs 950 crore in assets under management, with over 150 investors, according to Mr S.V. Prasad, Chief Executive Officer, Birla Sun Life AMC. The minimum investment requirement is Rs 50 lakh and for the custom option, it is Rs 2.5 crore. The AMC charges 1.25 per cent of the portfolio as a basic fee and will also charge 20 per cent of the portfolio's growth over 15 per cent. The back-end of the operation is outsourced to Deutsch Bank. The outsourced activities include custody, transaction settlement and individual client accounting.
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