Birla Sun Life Mutual Fund has launched Birla Sun Life Long Term Advantage Fund - Series I. It's a three-year closed-ended equity fund which will be automatically converted into an open-ended fund after three years.
The fund's aim is to generate consistent long term capital appreciation by investing in equity and equity-related instruments of small and mid cap companies. In order to maintain liquidity, a certain portion of investment would be made in fixed income securities and money market instruments.
Around 65 per cent-100 per cent of investment would be allocated in equity and equity-related instruments, of which 10 per cent -50 per cent would be in small-cap stocks and at least 35% needs to be invested in mid-cap stocks. Debt and money market component in the portfolio would be around 0 per cent -20 per cent
Snapshot
Face Value: Rs 10
Type of fund: Closed-end
Options: Growth, Dividend
Minimum investment: Rs 5,000
Fund Manager: Jayesh Gandhi
Stated Benchmark: BSE 500 Index
Offer opens: April 9, 2007
Offer closes: May 11, 2007
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