Curated By: Business Desk
Last Updated: September 05, 2023, 18:16 IST
The largest portion of Aditya Birla Group’s portfolio is in ITC at 6.88 per cent.
Started in August 2005, the Aditya Birla Group claims that this fund has converted an SIP of Rs 10,000 into a whopping amount of Rs 1.1 crore.
Investing in the stock market can be quite daunting and stressful sometimes but investing in mutual funds can be a stress-free way. With a proven track record, mutual funds are much safer options that offer an exciting opportunity for investors. While the returns may not be as high as directly investing money in stocks, mutual funds have the potential to turn small investments into a large corpus over a long period of time.
One such fund namely Aditya Birla Sun Life India GenNext Fund has claimed that it has converted a SIP of Rs 10,000 into a whopping amount of Rs 1.1 crore. Yes, you heard that right. Starting in August 2005, the Compound Annual Growth Rate (CAGR) of this company has been 16.20 per cent. The company is claiming an offer that if someone invested a lumpsum of Rs 10,000 in it in 2005, today that amount would have become Rs 1.55 lakh. Furthermore, the company added that if Rs 10,000 had been added to its fund every month since then, the amount would have been Rs 1.1 crore as against an investment of Rs 21.50 lakh.
Aditya Birla Sun Life India GenNext Fund is an open-ended equity scheme following a contrarian investment strategy. The Net Asset Value (NAV) of the fund as of August 02, 2023, is Rs 159.60 for the growth option of its regular plan. It’s important to note that the fund’s asset under management (AUM) was valued at Rs 3,855.80 crore as of June 30. This scheme focuses on investing money in those stocks/companies whose target audience is youth.
Other than that, the portfolio includes ITC, Hindustan Unilever, ICICI Bank, HDFC Bank, Axis Bank, Bharti Airtel, Maruti Suzuki India, United Spirits, Nestle India and Tata Motors. However, the largest portion of its portfolio is in ITC at 6.88 per cent.
Experienced professionals Chanchal Khandelwal and Dhawal Joshi manage the Aditya Birla Sun Life India GenNext Fund. It is interesting to note that Chanchal Khandelwal has been a part of the Aditya Birla Group for the last 15 years, while Joshi brings 15 years of equity research and investment. Moreover, before joining the Aditya Birla Group, Dhawal Joshi worked with Sundaram Mutual Fund.