Mumbai, May 21 (IANS) Aditya Birla Sun Life Mutual Fund has decided to suspend fresh subscription in two mutual fund schemes in order to protect the interests of the investors. The move is applicable from Friday.
In order to protect the interests of the investors, Aditya Birla Sun Life Mutual Fund has decided to temporarily suspend acceptance of fresh subscription or switch in applications in the funds' Medium Term Plan and Credit Risk Fund.
The Medium Term Plan is an open-ended medium term debt scheme while the Credit Risk Fund is a debt scheme which invests in ‘AA' and below rated corporate bonds.
No fresh registrations under systematic transactions, Systematic Investment Plan (SIP), Century SIP and Systematic Transfer Plan will be accepted from Friday till further notice.
However, the installments falling due under such plans registered prior to the effective date will continue to be processed under the respective plans and options of the schemes.