Calcutta, Sept. 12: Birla Mutual Fund has launched two schemes: an index fund that will track the National Stock Exchange’s Nifty and an equity fund that will invest its corpus in mid-cap stocks.
Speaking at the launch in the city today, Paras Adenwala, fund manager, said: “The Nifty is a better index to track. All but three funds track the BSE (Bombay Stock Exchange) Sensex.”
On the mid-cap fund, he said: “There are about 58 large-cap stocks in the market worth buying. Most of the 5,000 listed stocks are mid-cap, and many of them provide excellent investment opportunity.”
“The Infys and Sifys were mid- and small-caps some day. Today they are among the most actively traded large-caps. The challenge is to identify them.”