Birla Sun Life Mutual Fund has launched the New Fund Offer (NFO) for Birla Sun Life Capital Protection Oriented Fund - Series 1 -- a close-ended capital protection oriented scheme.

The scheme has opened for subscription from February 5, 2010 onwards and will close on March 5, 2010. It will have duration of 27 months from the date of allotment.

The scheme will have only growth option. The scheme will be benchmarked against the CRISIL MIP Blended Index. No entry and exit load is applicable. The minimum application amount will be Rs 5,000.

The asset allocation under this scheme will be -- 80-100% in debt securities and money market instruments and 0-20% in equity and equity related instruments. 

The investment objective of the scheme is to seek capital protection by investing in high quality fixed income securities maturing in line with the tenure of the scheme and seeking capital appreciation by investing in equity and equity related instruments.