Aditya Birla Sun Life AMC collects Rs 200 crore for its US treasury bond NFO

Aditya Birla Sun Life US Treasury 1-3 Year Bond ETFs Fund of Funds is suitable for investors with a shorter investment horizon and who have a relatively conservative risk profile, the company said.

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Reflecting an appetite for US government bonds as the US yields go up, Aditya Birla Sun Life Mutual Fund on November 20 said it collected nearly Rs 200 crore for its Aditya Birla Sun Life US Treasury Bond ETFs Fund of Funds NFOs (new fund offers) that opened from October 16 to 30.

“I am happy to share that almost 7,000 investors have capitalized on this unique opportunity and invested in Aditya Birla Sun Life US Treasury Bond ETFs Fund of Funds NFO,” said A Balasubramanian, managing director and chief executive of Aditya Birla Sun Life AMC.

“At ABSL AMC, we believe the Federal Reserve is unlikely to hike rates going forward and any increase in yields should be looked upon as an opportunity to buy US treasuries as rate cuts to start from the end of next year or early 2025. I firmly believe this passive offering is an excellent tactical opportunity to diversify your investments in US denominated assets. Both funds are open for continuous investment being part of the open-ended product suite.”

There are two funds with similar profile but catering to different type of investors. Aditya Birla Sun Life US Treasury 1-3 Year Bond ETFs Fund of Funds is suitable for investors with a shorter investment horizon and who have a relatively conservative risk profile, the company said. Aditya Birla Sun Life US Treasury 3-10 Year Bond ETFs Fund of Funds is suitable for investors with a long-term investment horizon and who have a higher risk profile.

The benefits of investing in these instruments include locking in multi-decade high yields for long-term, adding duration to portfolio and an opportunity to earn capital gains.

The fund house highlighted that when investing through Indian mutual fund schemes, the exposure is not treated as an overseas investment under the Liberalised Remittance Scheme (LRS) and there is no limit to investment value along with non-applicability of Tax Collected at Source (TCS) that makes this a compelling investment option.

It also creates a currency hedge i.e. protects against rupee depreciation. Lastly, asset class and geographical diversification can also be achieved by investing in these funds.

As per the current regulatory provisions, mutual funds can make overseas investments in exchange traded fund (ETFs) subject to a maximum of $300 million per Mutual Fund, within the overall industry limit of $1 billion.

Shares of the company traded down 1.81 percent at Rs 451.10 on the BSE as of 1pm.