Birla Sun Life Special Situations Fund

Birla AMC has come out with a new fund called the Birla Sun Life Special Situations Fund which is an open ended diversified fund. The objective of the scheme is to generate long-term growth of capital by investing in a portfolio of equity and equity related securities. The scheme would follow an investment strategy that would take advantage of special situations and contrarian investment style.

Special situations are defined as those where there was huge share holder value unlocking by way of merger of a company or take over by a company or delisting of the company or some event which is not normal and is defined as Special.

The company aims to invest 80%-100% of the amount in equity while 0 - 20% will be invested in Fixed income securities including Money market instruments.

Snapshot
Face Value: Rs. 10
Date of opening - 17th Dec 2007
Date of closing - 15th Jan 2008
Plans: Retail and Institutional
Options: Dividend (Reinvestment/Payout/Sweep) & Growth
Minimum Investment: Retail: Rs. 5000 and subsequently in multiples of Rs.1
Benchmark Index: BSE 2000
Load Structure:

Entry Load (including SIP):
For less than upto Rs. 5 crores – 2.25% of the applicable NAV
For Rs. 5 crores & above – Nil
Dividend Reinvestment: Nil

Exit Load (including SIP):
For purchase of units less than Rs. 5 crores – 0.5% of the applicable NAV (within 6 months from the date of allotment)
For purchase of units of Rs. 5 crores & above – Nil