Birla MF launches new scheme

Birla said the launch of Birla Balance comes at an opportune time with the economy starting to look up, interest rates moving southwards and the stock market beginning to show signs of revival. 8220;This augurs well for investors who would like to optimise their gains by controlled exposure to equity through Birla Balance,8221; Birla said.

Jeremy Beswick, CEO, Birla Sun Life Asset Management Company said quot;a fund like this is in great demand in the market place, as it seeks to provide an investor with a return greater than a pure debt portfolio, but with less volatility, ie risk, than a pure equity portfolio. As a core medium term investment, it will therefore provide ideal for investors of almost all age groups and risk profilequot;.

Birla Balance Fund will invest in the range of 50-75 per cent of its corpus into equity and rated instruments and at least 25 per cent but below 50 per cent in debt and money market instruments.

Investors can enter the scheme with an initial subscription amount of Rs 3, 000.Additional sums may be invested in multiples of Rs 1000. No load will be charged for investors who subscribed during the issue period. For on-going subscription, units will be offered at NAV based price. The fund will remain open for initial subscription from September 6 to October 4, 1999.