Business   

Reliance MF launches Infra Fund

— PHOTO: SHASHI ASHIWAL

FOCUSSING ON INFRASTRUCTURE: Sundeep Sikka (right), CEO, Reliance Capital Asset Management, with Sunil Singhania, Senior Vice-President, addressing a press conference in Mumbai on Wednesday.

MUMBAI: Reliance Mutual Fund, part of the Reliance Anil Dhirubhai Ambani group, on Wednesday launched Reliance Infrastructure Fund.The open-ended equity fund will invest significantly in equity and equity-related instruments of companies engaged in infrastructure and infrastructure-related sectors such as transport, banks and financial institutions, energy, power and oil, metals and minerals, telecom and urban infrastructure.

“Undoubtedly, infrastructure is a key priority for India and we also hope a spurt of infrastructure spending in the economy on the back of the stable government and ease of project financing. Moreover, the valuation looks more attractive and the environment being stable with the new government settling in,”said Reliance Mutual Fund CEO Sundeep Sikka here.

“The right time is now to invest in infrastructure and infrastructure-related firms, a sector which is likely to get a boost from the new government,” he added.The new fund offers two plans — Retail and Institutional. The minimum investment in the fund would be Rs. 5,000 and in multiples of Re. 1 thereafter for the Retail Plan and Rs. 5 crore and in multiples of Re 1 thereafter for the Institutional Plan.

Each Plan has the following schemes — Growth Plan (growth option and bonus option) and Dividend Plan (dividend payout option and dividend reinvestment option).

Reliance Infrastructure Fund will invest at least 65 per cent of its assets in engineering, cement and power stocks as well as banks, whereas the balance will be invested in debt and money markets.

The scheme would provide investors opportunity to buy or sell units on an ongoing basis from not later than 30 days after the close of the New Fund Offer (NFO) on June 23.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

Tata Realty to develop Rs. 20,000 cr projects
Coping with recession, the Infosys way
Harrisons posts Rs. 9 cr loss in Q4
Satyam: further delay in variable pay disbursement
Environmental nod for Cals Refineries
Lock-out lifted at MRF’s Arakkonam plant
Japanese co starts India operations
Reliance MF launches Infra Fund
MRPL net profit dips 6.3 %
Textile exports may touch $22 billion
GMR Kamalanga achieves financial closure
Industry will get cheaper funds: Pranab
Exchange Rates
Bullion Rates
Wipro Info launches enterprise data centres
Gmmco sets up new business division
Kingfisher launches mobile ticketing solution
Unichem pays Rs. 5 per share final dividend
Anantara Solutions’ ISMS gets certification
Amit Jain new MD of AkzoNobel

Copyright © 2009, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu