Mumbai: AIG Investments announced the launch of the AIG Infrastructure and Economic Reform Fund, an open-ended equity scheme. The fund will invest in companies that may benefit from potential investments in infrastructure and unfolding economic reforms without having any bias towards any sector or market capitalization range.
The New Fund Offer priced at Rs10 per unit (plus applicable entry load) will be open for purchase from 10January, 2008 to 31January, 2008 and will re-open for ongoing purchases / redemptions no later than 29February, 2008. The fund will be managed by Tushar Pradhan, chief investment officer - equities.
Speaking on the occasion,Sunil Mehta, country head and chief executive, India, American International Group, Inc. said, “Infrastructure is critical for India to take its growth momentum forward. AIG through its funds has made substantial direct investments in India’s infrastructure covering telecom, toll roads / bridges and energy and is committed to investment in India’s infrastructure.”
According to Saurabh Sonthalia, CEO, AIG Global Asset Management Company (India) Pvt. Ltd said, “If we look at the last couple of years, GDP growth in India has accelerated because of investments. We believe that investments will continue to drive India’s GDP growth for the next 5-10 years. These investments are likely to be driven by infrastructure growth and economic reforms.