ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Birla Advantage Fund

EPW Research Foundation Birla Advantage Fund BIRLA MUTUAL FUND is entering the mutual fund business with the launch of an open-end scheme called 'Birla Advantage Fund'.. The corpus of the fund is targeted at Rs 100 crore. The plan is to restructure the investment portfolio in such a way as to maximise capital gains for unit holders rather than provide annual income. Accordingly, the fund plans to invest at least 70 per cent of the corpus in equities. The balance is to be invested in debt and money market instruments. To provide transparency, the fund will announce the NAV of the fund on a daily basis and full details of the portfolio will be announced annually. Unit holders would be eligible for loans against units to be provided by Birla Global Finance. The fund has been sponsored by Birla Global Finance, formerly known as Birla Growth Fund, which belongs to the Aditya Birla group. The investment of the corpus is to be managed by Birla Capital International AMC which is a joint venture between the Aditya Birla Group and the Capital Group Companies of the US. The issue offer comprises 10 crore units with a par value of Rs 10 each. The issue is slated to open on February 17.

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