Birla Sun life launches Birla Sun Life Long Term Advantage Fund
Bangalore, Apr 13 (UNI) Birla Sun Life Mutual Fund today announced the launch of a new Fund-- Birla Sun Life Long Term Advantage Fund Series I (BSLAF-Series I), a three year closed-end equity Fund aiming to generate consistent long term capital appreciation.
Briefing newsmen here on the new fund, Birla Sun Life MF Chief Investment Officer A Balasubramaniam told newsmen here that the proceeds of the fund would be invested in mid cap companies with a market capitalisation ranging between Rs 800 crore and Rs 10,000 crore.
Stating that the initial response to the fund which opened on April 9 was enthusiastic, Mr Balasubramaniam said that the Company aimed to maintain its last few years growth of 55 to 60 per cent during the current fiscal also.
The Mutual Fund was expanding its base and moving into additional tier II cities across the country. The company aimed to expand its office in 35 cities across the country from the present 25, he said.
The Birla Sun Life Mutual Fund was currently managing a portfolio of over Rs 25,000 crore including an offshore Fund of around Rs 3,000 crore. It's investor base was around 1.1 million.
The new scheme closes on May 11.
UNI