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Mumbai April 9 Birla Sun Life Mutual Fund has launched Birla Sun Life Long Term Advantage Fund - Series I, a three-year closed-ended equity fund.

The fund aims to generate long-term capital appreciation by investing predominantly in equity and equity-related securities of small and mid cap companies.

The fund will be benchmarked against the BSE 500 index.

"Mid and small cap companies now quote at a substantial discount to the large cap companies and hence offer better risk-to-reward and investment opportunities," said Mr Mukul Gupta, CEO, Birla Sun Life Mutual Fund.

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