Birla Sun Life-Offshore Schemes-1

Offshore Schemes

India Advantage Fund

About the Fund (Company)
The Company (India Advantage Fund Ltd.) was incorporated in Mauritius on 23rd May 1996, as an investment company with limited liability with registration number 16491/2635. The Company is a "company holding a category 1 global business license" according to the Mauritian Companies Act, 2001 and is resident in Mauritius. Application was made to the Commissioner of Income Tax in Mauritius for a certificate of Mauritian tax residence, which was issued to IAFL on 15th August 1996.The Company is registered with the Financial Services Commission, Mauritius.

Birla Sun Life Asset Management Company Limited (BSLAMC) was incorporated in India on 5th September 1994, BSLAMC previously owned by the Aditya V. Birla Group and Capital International Group of USA in the ratio of 60:40 is now held by Aditya V. Birla group as to 50% and a subsidiary of Sun Life Assurance Company of Canada (Sun Life) namely, Sun Life (India) AMC Investments Inc. as to 50%.

Sun Life Financial is a leading international financial services organization providing a diverse range of wealth accumulation and protection products and services to individuals and corporate customers. Tracing its roots back to 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of June 30, 2007, the Sun Life Financial group of companies had total assets under management of CDN$ 435 billion.

The Aditya Birla Group is India's first truly multinational corporation. Global in vision, rooted in Indian values, the Group is driven by a performance ethic pegged on value creation for its multiple stakeholders. A US$ 24 billion conglomerate, with a market capitalisation of US$ 28 billion, it is anchored by an extraordinary force of 1,00,000 employees belonging to over 25 different nationalities. Over 50 per cent of its revenues flow from its operations across the world. The Group's products and services offer distinctive customer solutions. Its 85 state-of-the-art manufacturing units and sectoral services span India, Thailand, Laos, Indonesia, Philippines, Egypt, China, Canada, Australia, USA, UK, Germany, Hungary, Brazil, Italy, France, Luxembourg, Switzerland, Malaysia and Korea. A premium conglomerate, the Aditya Birla Group is a dominant player in all of the sectors in which it operates such as viscose staple fiber, metals, cement, viscose filament yarn, branded apparel, carbon black, chemicals, fertilisers, insulators and financial services, telecom, BPO and IT services. The group has been adjudged the best employer in India and among the top 20 in Asia by Hewitt-Economic Times and Wall street Journal study 2007.

In December 1994, BGFL established a mutual fund, named "Birla Mutual Fund'', and appointed BSLAMC as its investments manager. The trustee of Birla Mutual Fund is Birla Sun Life Trustee Company Limited, an Indian company. The Sub-Fund has been established as a dedicated scheme of Birla Mutual Fund.


About the Fund (Management)
The Board
The Board of Directors comprises six persons. The following are the directors of the Company:
1. Mr. Kumar Mangalam Birla
2. Mr. M. Amade Hajee Dawjee Vayid
3. Mr. B.N. Puranmalka
4. Mr. Couldip B. Lala
5. Mr. Subhas C. Lallah
6. Mr. Venkatesh Mysore

The International Investment Manager
BSLAMC (Mauritius) has been appointed as investment manager of the Company, with responsibility for the general management of the Company subject to the supervision of the Directors. BSLAMC (Mauritius), was incorporated in Mauritius on 20th May,1996, and is registered with FSC, as “a Company holding a category 1 global business license “ under the Mauritian Companies Act, 2001. It has been authorized by FSC to conduct fund management business. The directors of BSLAMC (Mauritius) are:

1. Mr. Kishore Sunil Banymandhub
2. Mr. Kapil Dev Joory
3. Mr. Ajay Srinivasan
4. George Andre Robert
5. Mr. Venkatesh Mysore

The Sub-Fund Investment Manager
BSLAMC has been appointed as investment manager and administrator of the Sub-Fund. It has discretion as to the investments, which it makes on behalf of the Sub-Fund, subject to the overall policies of the Directors and the requirements that the Sub-Fund’s investments and other assets and liabilities comply with the investment objectives, policies and restrictions applicable to the Company from time to time. The directors of BSLAMC, the Sub-Fund Investment Manager are:

1. Mr. Kumar Mangalam Birla - Chairman
2. Mr. Donald Stewart
3. Mr. N.C. Singhal
4. Mr. N.N. Jambusaria
5. Mr. S.S. Raman
6. Mr. Ajay Srinivasan
7. Mr. Ashok Goenka
8. Mr. Stephan Rajotte

Administrator of the Company
International Financial Services Limited ("IFS"), a Mauritius company, acts as administrator, secretary and registrar of the Company.