NEW FUND OFFER FROM BIRLA SUNLIFE - SPECIAL SITUATION FUND

Birla Sun Life Special Situation Fund is the latest offering which will follow an investment strategy that would take advantage of Special Situations and Contrarian investment style. The fund has defined Special Situations as potential gains from merger, acquisition, demerger, restructuring, divesting, buy backs, new funding etc. The fund may also invest in companies that are currently out of favor, overlooked or ignored for poor results, product failures, factor affecting the industry, political interventions, etc. The fund plans to invest 80 percent of the proceeds in equity and the remaining 20 percent in fixed income securities.

Scheme Details
Issue Opens: December 17, 2007
Issue Closes: January 15, 2008
Fund Category: Open-End, Equity Scheme
Benchmark Index: BSE 200
Minimum Investment: Rs. 5000
Entry Load: 2.25 per cent for investment of less than Rs 5 crores
Exit Load: For investment of Rs. 5 crores, an exit load of 0.50 per cent will be charged if the units are redeemed out within six months from the date of allotment.

About the Fund Manager
A. Balasubramaniam is the designated fund manager for the scheme who has a total experience of 15 years in the financial industry and is working with Birla Sun Life AMC for the last 10 years. Prior to joining Birla Sun Life AMC, he was working with GIC Mutual Fund Currently, he is managing Birla Advantage Fund, Birla MNC, Birla Mid Cap, Birla India GenNext, Birla MIP, Birla MIP II Savings 5, Birla MIP II Wealth 25, Birla Sun Life MIP, Birla Balance and Birla Sun Life'95.
Birla Sun Life AMC Birla Sun Life AMC started its operation in the year 1994. Currently they are managing assets worth Rs 31,370 crore. The fund house's 21 equity fund offerings contribute over 26 per cent to its total asset under management. Out of its thirteen rated equity funds, two are rated 1-star, three are rated 2-star, two are rated 3-star, five are rated 4- star while Birla Sun Life Frontline Equity enjoys a 5-star rating.
Performance of Similar FundsCurrently, there is only one fund with similar investment style - Fidelity India Special Situations Fund. This is a Rs 2,234 crore diversified equity fund which has delivered a return of 48.15 per cent (as on December 26, 2007) since its launch in April 2006.

In recent years Birla Sun Life equity funds have been impressive. The fund holds great promise if the fund manager is able to derive the best from its broad team of managers and analysts managing a wide array of equity funds. These fund portfolios often show interesting special situation stocks ideas. This fund could be a worthy consideration for NFO fans, seeking an opportunistic bet from a proven fund family