Aditya Birla Sun Life MF files draft for blockchain fund

6 Apr 2022 , 03:06 PM

Aditya Birla Sun Life Mutual Fund on 6 April 2022 filed an offer document with the Securities and Exchange Board of India (Sebi) for a Blockchain & Virtual Digital Assets ETFs Fund of Fund.

The open ended fund of funds scheme seeks to invest in the units of ETFs focused on the global blockchain theme (including Virtual Digital Assets).

The performance of the scheme will be benchmarked to the performance of MSCI ACWI IMI Blockchain Economy Index. The index, developed in collaboration with ARK Invest, includes large, mid and small-cap securities across 23 Developed Markets (DM) and 25 Emerging Markets (EM) countries.

The mutual fund scheme seeks to invest in any (but not exclusively) of the following overseas Exchange Traded Funds (ETFs):

lify Transformational Data Sharing ETF ? Siren Nasdaq NexGen Economy ETF ? First Trust Indxx Innovative Transaction & Process ETF ? Bitwise Crypto Industry Innovators ETF ? Global X Blockchain ETF ? Invesco CoinShares Global Blockchain UCITS ETF ? VanEck Digital Transformation ETF ? First Trust SkyBridge Crypto Industry and Digital Economy ETF ? ProShares Bitcoin Strategy ETF ? Valkyrie Bitcoin Strategy ETF.

The scheme is open to invest in similar overseas ETFs which have similar investment objective, investment strategy and other attributes of the scheme and which follows global blockchain theme (including Virtual Digital Assets).

According to the scheme information document, the minimum application amount will be Rs 100 and in multiples of Re 1 thereafter. The scheme’s riskometer clearly states that the scheme will fall in the ‘very high risk’ category.

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