'Birla Sun Life Special Situations fund' launched

Chennai, Dec 17 (UNI) Birla Sun Life Asset Management Company today announced the launch of its new fund 'Birla Sun Life Special Situations Fund', an open-ended diversified equity scheme.

The NFO for this scheme opens today.

The company proposed to invest 80 per cent of the proceeds in equity and the remaining 20 per cent in fixed income securities, company CEO Mukal Gupta told newspersons here.

He said the investment objective of the scheme was to generate long term growth of capital by investing in a portfolio of equity related securities.

The scheme would follow an investment strategy that would take advantage of 'Special Situations' and Contrarian investment style, he said, adding that 'Special Situations' have been known to enhance the value of businesses that eventually get reflected in share prices.

UNI