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Birla Sun Life launches new fund

19th February, 2008

The Economic Times
19 February 2008

Birla Sun Life Asset Management on Monday announced the launch of diversified equity scheme. "The main objective of this scheme is to generate long-term growth of capital by investing in a portfolio of equity and equity-related securities. The fund will invest 85 per cent of proceeds in equity and the remaining 15 per cent in fixed income securities," Birla Sun Life Asset Management manager (equities) Hemang E Dagli told reporters.

"Sharp corrections in Indian markets have dented investors' confidence but they need to understand that value is created only by investing in right businesses at the right time," he said.

Birla Sun Life Asset Management has Rs. 31,000 crore as assets under management (AUM) and an investor base of over 15 lakh.