Birla Sun Life Mutual Fund launches new scheme

MUMBAI: Birla Sun Life Mutual Fund today said it has launched a 27-month close-ended fund--BSL Capital Protection Oriented Fund Series 1 (CPOS).

The fund seeks to protect capital by investing in high quality debt securities maturing in line with the tenure of the scheme, the company said in a statement here.

It also seeks capital appreciation by investing a part of the capital in equity market.

"The fund intends to invest 90 per cent of the capital on the debt side in high quality debt instruments and the balance shall be invested in the equity side," Birla Sun Life Mutual Fund CEO, A Balasubramanian, said.

Basically, the fund offers investors an opportunity to invest a small portion of their portfolio in equity market with low risk, he said.

The fund offers growth option with minimum application amount of Rs 5,000 during the new fund offer period.

It would be be open for subscription till March 5. Non-Resident Indians (NRIs), Foreign Institutional Investors (FIIs) and Person of Indian Origins (PIOs) are eligible to invest in the scheme on a full repatriation basis.

The fund would be listed on stock exchanges. Benchmarked against CRISIL MIP Blended Index, the fund has no entry or exit load.