Birla Bond Index Fund is being renamed as Birla Sun Life Short Term Opportunities Fund. The fund house has also announced some changes in the features of the fund:
1. Introduction of Institutional Plan under the Scheme
2. Change in Asset Allocation pattern: Now 0-80% investment will be in Debt and Money market with short to medium term maturities. Rest 0-20% investment will be in money market instrument including cash and equivalents.
3. Change in Benchmark Index to Crisil Liquid Fund Index.
4. Exit load will be charged at 0.20% for units redeemed or switched out within 30 days from the date of allotment.
5. Sunaina Da Cunha will be an additional Fund Manager along with Satyabrata Mohanty
All the above changes will be effective from June 27, 2008.