Birla Sun Life Asset Management Company on Monday announced the launch of its new fund called Birla Sun life Special Situations Fund. A spate of special situations like private equity share, merger & acquisitions, listing of subsidiaries, open offers, diversifications and contra-play always increase the value of the business that gets reflected in the share prices.
“This trend of special situations is expected to continue in future, as most quality companies will plan expansions, enter new business sectors and restructure the existing businesses. We will use our investment expertise to identify the right special situations in our new fund that can generate superior returns,” said Swarup Mohanty, vice-president (sales) of the Birla Sun Life Mutual Fund. This special fund plans to invest 80% of the proceeds in equity and the remaining in fixed income securities.
“This fund has got no sector bias,” said Sanjay Chawla, fund manager, Birla Sun Life Mutual Fund. The NFO for this fund has opened on Monday.
