Kolkata, Dec 17: Birla Sun Life Asset Management company, one of the leading AMCs with over Rs 31,000 crore assets, today launched Birla Sun Life Special Situations fund, an open ended diversified equity scheme with offer price Rs 10 per unit.
The MF with closing date of January 15 next plans to invest 80 per cent of the proceeds in equity and equity related instruments and the rest in fixed income securities.
The subscription with Rs 5,000/= and in multiple of Re 1 thereafter per application under each plan has both options- dividend (reinvestment/payout/sweep) and growth.
Company's financial advisor Swarup Mohanty said the investment objective of the scheme was to generate long term growth of capital by investing in a portfolio of quity and equity related securities.
He said the scheme would follow an investment strategy that would take advantage of Special Situations and Contrarian investment style.
The Speicial situations have been known to enhance the value of the businesses that eventually gets reflected in share prices.