Mumbai: Tata Mutual Fund has announced the launch of Tata Growing Economies Infrastructure Fund, an open ended equity scheme with a two-plan option for investors.
The scheme aims at leveraging the performance of infrastructure and other infrastructure related sectors in the growing economies of the world and in India. The objective of the scheme would be to invest primarily in equities of infrastructure companies overseas.
The New Fund Offer, priced at Rs10 per unit (plus applicable load) will open for initial subscription from 18February, 2008 and close on 19March, 2008. The scheme will re-open for ongoing subscriptions not later than 30 days from the closure of the NFO.
According to Ved Prakash Chaturvedi, managing director, Tata Asset Management Limited, “We believe there are many economies of scale that are experiencing enormous growth in infrastructure development just like India. By this fund we aim to capture this growth for our investor with the added benefit of diversification.”
Investment objective of the scheme is to generate capital appreciation/ income by investing predominantly in equities of companies in infrastructure and other related sectors in the growing economies of the world and in India. The investment focus would be guided by the growth potential and other economic factors of the countries. Atleast 51% of net assets would be invested in geographies outside India.
Tata Asset Management Ltd is a part of the Tata group