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Our Bureau

Mumbai, Jan 5

BIRLA Sun Life AMC on Monday launched the Birla Asset Allocation fund.

The fund, termed "fund of funds" will invest in a basket of mutual fund schemes. This is the first IPO in the country for an asset allocation fund.

The offer will be open from January 6 to 20, and will allow investors to avail of dividend and growth options. Speaking at the launch of the fund, Mr S.V. Prasad, CEO of Birla Sun Life AMC, said that the fund would ensure that investment decisions would be based on fundamentals and not on what is the theme-of-the-day. The fund offers four allocation plans - conservative, moderate, aggressive and dynamic - to suit various risk profiles.

While initially the fund will invest in debt and equity funds of the AMC, it has the option to subsequently invest in funds from other AMCs. The fund will be indexed against the composite index of Crisil Bond Index and Nifty 50, depending on the debt-equity split.

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