Tata Indo-Global Infrastructure Fund  to close on Oct 16

PFW Bureau / Sep 5

Tata Mutual Fund has launched Tata Indo-Global Infrastructure Fund, a close ended equity scheme, with a maturity of 3 years.

The scheme will automatically be converted into an open-ended scheme after the completion of the maturity period. The investment objective of the scheme is to generate long-term capital appreciation by investing pre-dominantly in equity and equity related instruments of companies engaged in infrastructure and infrastructure related sectors and which are incorporated or have their area of primary activity  in India and other parts of the world.

The New Fund Offer (NFO), priced at Rs.10 per unit was opened  for the initial subscription on September 3, 2007 and it will close on October 16, 2007. The fund will invest 65% to 85% in equity and equity related instruments of domestic companies, 15% to  35%, in foreign securities as permitted by SEBI and RBI and upto 35% in debt and Money Market Instruments.

Commenting on the new offshore scheme, Ved Prakash Chaturvedi, managing director, Tata Asset Management Company said, “Infrastructure will be the big growth story in India and in other parts of the world, which are in the same stages of development like India. The benefits of investing in global listed infrastructure securities is that these companies typically display a strategic comparative advantage and economies of scale”.