MUMBAI, DEC 27: Birla Mutual Fund, the largest Indian mutual fund after Unit Trust of India with total assets under management of about Rs 3,745 crore, today announced the formal migration of Apple Mutual Fund to Birla Mutual Fund.The two funds acquired from Apple will be re-launched as Birla IT Fund (formerly known as Apple Platinum Share) and Birla MNC Fund (formerly as Apple midas Fund-the Gold share). With this, Birla MF adds two new equity funds to its existing portfolio of five equity funds. The launch of these two funds marks the successful completion of the takeover of assets (assets under management-Aplle Platinum share of Rs 22 crore and Aplle Midas Fund Rs 82 crore) of Apple Mutual Funds's two schemes.Announcing this new development at a press conference here today, Kumar Mangalam Birla, chairman, the Aditya Birla group, said that "with this takeover, nearly one lakh investors will join the Birla Mutual Fund. These investors can now access a large number of attractive investment opportunitiesfrom BMF through our investor service centres".
