Aditya Birla Sun Life Bal Bhavishya Yojna NFO will run during the period 22 January – 5th February, 2019. ABSL Bal Bhavishya Yojna is an open ended fund for investment for meeting financial needs of children. It is launched as a fund to support parents and grant parents to fulfill their aspirations for children and grandchildren.
Financial planning is essential to meet life goals. Wellbeing of children is an important goal of all parents. Financial planning, from an early stage, assumes critical importance in meeting the aspirations one has for their children. Sometimes parents have to compromise their other financial objectives to meet life goals of children. Another set of parents fails to fulfill their dreams about children due to paucity of funds as and when needs arise. Both these situations arise from lack of fancial planning.
ABSL Bal Bhavishya Yojna NFO aims to make the financial planning easy for parents. Education inflation has shown a fast increasing trend compared to WPI or CPI and the educational costs have increased manifold in the recent past. The story is not different even for education from play school to higher secondary. Cost of medical education has gone beyond the reach of even meritorious students. ABSL Bal Bhavishya Yojna aims to help investors meet their child’s higher education/other expenses. Financial planning for higher education is normally of long term in nature. This long tenure, offers the corpus sufficient time to grow by leveraging the compounding effect. For this reason, ABSL Bal Bhavishya Yojna NFO comes with a lock-in for at least 5 years or till the child attains age of majority (whichever is earlier).
The greatest advantage the NFO offers is that apart from parents, donors like grandparent, guardian, relative and even non-individual can save and gift the fund to a child to secure his/her future financial need.
ABSL Bal Bhavishya Yojna NFO -Salient Features
• Investments in the name of minors only (<18 years at the time of investment)
• Wealth Plan and Savings Plan to address Child’s Short term & Long term goals
• Wealth Plan – An equity fund that focuses on multi-cap oriented Diversified portfolio of quality companies across sectors and market cap
• Savings Plan –A debt fund that follows a strategy with exposure to high quality Corporate bonds coupled with potential of capital appreciation. Equity expowure limited to 10-25%
• Offers Multiple Plan Investment Facility – Investment can be made in both Wealth and Savings plan at the time of initial investments
• Intra-scheme switching option can be utilised to switch from Wealth to Savings plan or vice versa as per your requirements
• Fixed payment option under Smart Withdrawal Plan allows investor to receive income at fixed intervals, subject to lock-in period
• Supports Systematic Investment Plan (SIP)
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