Birla Sun Life New Millennium Fund

BSL New Millennium Fund is being managed by Naysar Shah. Its portfolio risk and returns have been below the category average. If you have invested in this fund, exit now. New investors should rather look for better funds belonging to sectors that are the ‘in thing’ now. Thematic funds like this one should only be part of one’s satellite portfolio.

Where does BSL New Millennium Fund invest your money?

BSL New Millennium Fund is a technology sector fund which invests your money in companies linked to the IT sector like hardware, peripherals and components, software, telecom, media, internet and e-commerce and other technology enabled companies across market caps. It has a large cap bias. It invests 78.63% of its assets in large cap companies, 15.61% in mid cap companies and another 5.76% in small cap companies. Large cap companies tend to be stable compared to mid cap and small cap companies. Small and mid size companies have the potential to become large companies and when that happens you are expected to get bumper returns.

Suitable For
  • Child's Education
  • Child's Marriage
  • Retirement Corpus
  • Buying Home
Not Suitabe for
  • Wealth Creation
  • Short term needs
Our recommendation for fresh investment
Not Recommended
Our recommendation for existing investment
Not Recommended
How has Birla Sun Life New Millennium Fund performed in the past?

If you had invested Rs 1 lakh when the fund was launched in Jan 2000 the value of your investments would be around Rs 1.82 lakhs. If you had invested Rs 1 lakh five years back it would have become Rs 93 thousand. The performance has been poor as compared to other mutual funds in this category. The fund has been giving at around -1.3% every year for those who stayed invested for last 5 years.

Assume you had invested Rs 10,000 every month in BSL New Millennium Fund through SIP for the past 5 years today you would have just around Rs 6.71 lakhs.

What charges apply?

A onetime fee of Rs 100 is charged on investments over Rs 10, 000 made through distributors. If you are a first time investor in mutual funds an additional Rs 50 is charged to cover KYC expenses. This is deducted from your investment and can be skipped if you buy directly from the mutual fund via their website or offices.

If units are sold within a year an exit load of 1% is deducted from your total returns. No exit load applies for units withdrawn post one year. Expense ratio of Birla Sun Life New Millennium Fund is 2.97%. This is charged to recover the fund management company’s expenses on securities’ transactions, commissions, registrar fees, etc. Your mutual fund returns will be total returns less expense ratio.

What are the tax implications?

The returns in a mutual fund are absolutely tax free, provided you do not withdraw within 1 year. BSL New Millennium Fund does not qualify for sec 80C ELSS benefits.

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