Birla Sun Life - Equity Schemes - Mutual Funds-5

Birla Midcap Fund

Birla Midcap Fund is an open ended growth fund which focuses on investing in the Midcap segment of the market with a disciplined investment approach. More than 65% of the portfolio at any point of time comprises of Midcap stocks. Diversification and superior risk control form an integral part of the fund management strategy to keep portfolio volatility at lower levels vis-a-versa the benchmark CNX Mid-cap Index. The key portfolio strategy is summarized as follows:
Strong process driven investment philosophy matched with a disciplined risk management strategy.
Identifying stocks that can demonstrate strong growth over 3-5 years horizon.
Avoid market timing and cash calls.
Avoid concentrated & aggressive calls.
Focus on identifying scaleable businesses with objective of identifying tomorrows large-cap.
Sharpe-eye on valuations.


The fund seeks to achieve long-term growth of capital at controlled level of risk by primarily investing in Mid Cap Stocks. The Midcap segment comprises mostly of companies that have been able to sustain themselves in the initial phases of growth. Since many companies out of this segment would show higher growth in future and move towards the large cap segment, this segment offers very high potential. With over 250 stocks in the Midcap segment, there exists a large variety of business to choose from. Further, this segment is relatively under researched and hence offers an excellent opportunity for bottom-up focus thus enabling the spotting of winners ahead of the market.

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Birla Sun Life Special Situations Fund

Birla Sun Life Special Situations Fund endeavors to generate long-term growth by identifying stocks that may have the potential for special situation. Stocks that are undergoing or have undergone such a situation are also potential picks.

Most special situations often result in incremental value addition to a stock/business. This may get reflected in the price within a short period or gradually depending on the special situation that the company is in.

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.

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Birla Top 100 Fund

Birla Top 100 Fund is an open ended growth scheme which will focus on investing predominantly in a diversified portfolio of Large Cap stocks. It is specifically designed for those investors who seek exposure to a broader large market capitalization stocks and growth cum value style of investing. The Fund shall invest at least 65% of its corpus in equity and equity related securities of the top 100 Indian companies as measured by market capitalization and listed on stock exchanges. The remaining portion of the portfolio can be invested in equity and equity related securities of companies other than the top 100 companies which in the opinion of the Fund Manager have attractive growth prospects and potential to outperform the broad market indices.

Birla Sun Life Long Term Advantage Fund - Series 1

The Indian stock market has witnessed a strong rally in the last four years. From a level of 2,949 in October'02 the broad based Sensex has grown to 13,072 as of March 31st 2007; An encouraging compounded annual growth of 40%.

Last 4 years have seen unprecedented YoY returns

Transition from gross under valuation to fair valuations
Re-rating of a lot of frontline stocks


While the rally has been broad based, going forward, prudent stock selection would be a key to generating superior returns. Small and mid cap segment with a large universe of stocks provide an ideal ground for identification of future
performers.

In a growing economy like India's, good quality stocks in the small and mid cap segment provide higher opportunities for growth.

A few reasons being :

The base effect translates any absolute increase in sales and net profits into higher % growth
Being smaller in size these companies are far more nimber to capture potential opportunities
These companies have a higher Re-rating potential since they are not yet in the mainstream and therefore are under researched.