Aditya Birla Sun Life Asset Management

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Aditya Birla Sun Life Asset Management Company Limited
IndustryFinancial services
Founded1994 in India
Headquarters
Mumbai, Maharashtra
,
India
Areas served
26 countries
Key people
A. Balasubramanian (CEO)
Services
OwnersAditya Birla Capital (51%)
Sun Life Financial Inc.(49%)[2]
Websitemutualfund.adityabirlacapital.com

Aditya Birla Sun Life Asset Management Company Ltd. (ABSLAMC), formerly known as Birla Sun Life Asset Management Company Limited, is an investment managing company registered under the Securities and Exchange Board of India. It is a joint venture between the Aditya Birla Capital of India and the Sun Life Financial Inc. of Canada. The company offers sector-specific equity schemes, fund of fund schemes, hybrid and monthly income funds, debt and treasury products and offshore funds.[3][4][5]

History

Birla Sun Life Asset Management Company was established in 1994 as a joint venture between the Aditya Birla Group and the Sun Life Financial of Canada where the former owns 51% and the rest by latter which is a leading international financial services organization providing a diverse range of wealth accumulation, protection products, and services to individuals and corporate customers.[6][7] Till year 2020,it had the largest team of research analysts in the Insurance industry with operations in major worldwide markets, including the United Kingdom, United States, Canada, Japan, Indonesia, Philippines, Ireland, China, Hong Kong, Bermuda, and India.[8]

Aditya Birla Financial Services Group (ABFSG) is the umbrella brand for all the financial services business of The Aditya Birla Group. ABFSG ranks among the top five fund managers in India (including LIC) with an AUM of around Rs 3 trillion by 2021[6].[citation needed] The company provides life insurance, asset management, lending (excluding Housing), housing finance, equity & commodity broking, wealth management and distribution, online money management portal—Aditya Birla Money MyUniverse, general insurance advisory and private equity and health insurance businesses, for retail and corporate customers. In FY 2013–14, ABFSG reported consolidated revenue from these businesses at just under ₹70 billion (US$800 million) and profits of about ₹7.5 billion (US$86 million).[citation needed] The company has 14,000 employees and over 6 million customers, with 1,500 points of presence and about 130,000 agents/channel partners.[citation needed]

Sun Life Financial, Inc. operates in India through Aditya Birla Sun Life Asset Management. Established in 1994, Birla Sun Life Asset Management Company Ltd. (BSLAMC), investment manager for Birla Sun Life mutual fund, has been a joint venture between the Aditya Birla Group and Sun Life Financial Inc. since 1999. Birla Sun Life Mutual Fund was the fourth largest Fund house in India based on domestic average assets under management as published by AMFI for the quarter ended March 31, 2014.[citation needed]

On 20 April 2021, Aditya Birla Sun Life Asset management company filed Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India in order to raise funds through an initial public offering (IPO).[9]

Mutual Fund Schemes

It offers a various investment schemes including debt and treasury products, investment solutions including fund of fund schemes, Wealth Creation, Tax Savings, diversified and sector specific equity schemes and also introduced research-based investments, wealth management services, Regular Income Schemes, offshore funds, hybrid and monthly income funds, and Savings Schemes.[8] The company currently operates various mutual fund schemes as below:[8]

1.Wealth Creation schemes: The wealth creation schemes are - Birla Sun Life Century SIP, Birla Sun Life ‘95 Fund, Birla Sun Life Banking, and Financial Services Fund, Birla Sun Life Equity Fund, Birla Sun Life Dividend Yield Plus, Birla Sun Life Top 100 Fund, Birla Sun Life Frontline Equity Fund, Birla Sun Life Gold Fund, Birla Sun Life MNC Fund.

2.Regular Income schemes: Schemes introduced under this scheme are - Birla Sun Life MIP II – Savings 5 Plan, Birla Sun Life Monthly Income.

3.Savings schemes: Schemes introduced under this category are - Birla Sun Life Dynamic Bond Fund, Birla Sun Life Cash Plus, Birla Sun Life Medium Term Plan, Birla Sun Life Cash Manager, Birla Sun Life Savings Fund, Birla Sun Life Short Term Fund, and Birla Sun Life Income Plus.

4.Tax Savings schemes: Currently scheme under this category is Birla Sun Life Tax Relief 96.

See also

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 https://www.adityabirlacapital.com/about-us/our-businesses
  2. ↑ Sonavane, Ravindra N. (14 April 2021). "Aditya Birla Capital, Sun Life to sell 13.5% stake in asset management biz IPO". mint. Retrieved 23 April 2021.
  3. ↑ "Birla Sun Life Mutual Fund introduces 100% paperless, Aadhaar-based eKYC – Times of India". The Times of India. Retrieved 2016-11-03.
  4. ↑ K, Muthukumar (2016-08-28). "Birla Sun Life Cash Plus: A secure avenue for surplus funds". The Hindu Business Line. Retrieved 2016-11-03.
  5. ↑ "Birla Sun Life MF buys 7.19 lakh shares of Shriram City Union". www.moneycontrol.com. Retrieved 2016-11-03.
  6. ↑ 6.0 6.1 Laskar, Anirudh (8 March 2021). "Birla Sun Life plans1 raise ₹5,000 crore from share sale". mint. Retrieved 27 April 2021.
  7. ↑ https://mutualfund.adityabirlacapital.com/about-us
  8. ↑ 8.0 8.1 8.2 "Aditya Birla Sun Life Mutual Fund – Asset Management Company in India". Suger Mint. 1 April 2020. Retrieved 27 April 2021.
  9. ↑ Must, Profit (20 April 2021). "Aditya Birla Sun Life AMC IPO". Profitmust. Retrieved 21 April 2021.

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