Birla Sun Life MF Launches long term fund

Mumbai, Aug 3 (UNI) Birla Sun Life Mutual Fund (MF) today announced the launch of Birla Long Term Advantage Fund.

The Fund, scheduled to be formely launched on August seven 2006, aims at providing long term capital appreciation, by investing predominantly in a diversified portfolio of equity and equity related securities, a portfolio of reasonably priced that are expected to post attractive growth in three to five years.

Birla Mutual Fund, Director Mr Gary Comeford told mediapersons here,''This five year closed fund is particularly at those investors who want to maximise returns without being worried over volatile stock markets.It is advantage to the investors. This fund will follow the bottom up approach to build a quality portfolio and manage it. It will not have any style bias but will seek to benefit from investing in under-priced opportunities in all segments of the market.'' The Birla Long Term Advantage Fund will use derivatives to the extent of 50 per cent of the portfolio AUM and will create hedge durilng volatile times.Derviatives,when use for hedging can aid to reudce volatility of the portfolio.Therefore investors can benefit from the same level of returns but at a reduced level of risk, he added.

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