Mumbai, Dec 12 (UNI) Birla Sun Life Asset Management Company today announced the launch of its new fund ''Birla Sun Life Special Situation Fund''.
The NFO for this open-ended diversified equity scheme opens on December 17 and will be closed on January 15, 2008 with a minimum investment of Rs 5,000 only.
Talking to reporters, Birla Sun Life Mutual Fund CEO Mukul Gupta said, ''The fund plans to invest 80 per cent of the proceeds in equity and the remaining 20 per cent in fixed income securities. The offering comes with both dividend and growth variants.'' ''The investment objective of the scheme is to generate long term growth of capital by investing in a portfolio of equity and equity related securities. The scheme would follow an investment strategy that would take advantage of special situations and contrarian investment style,'' he added.