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Shashi Ashiwal

Mr Sundeep Sikka (right), CEO of Reliance Capital Asset Management Ltd, and Mr Sunil Singhania, Senior Vice-President, at the press conference in Mumbai on Wednesday. –

Our Bureau

Mumbai, May 27 Reliance Mutual Fund has launched a fund that will predominantly invest in companies engaged in infrastructure and infrastructure-related sectors in the country, the fund house said on Wednesday. The fund will invest across sectors such as transport, banks and financial institutions, energy, power and oil, metals and minerals, telecom and urban infrastructure among others, said Mr Sundeep Sikka, the Chief Executive Officer of Reliance Mutual Fund.

The open-ended equity scheme opened for subscription on Monday and will close on June 23.

The fund could invest a minimum of 65 per cent and a maximum of 100 per cent in equities and equity-related securities, including derivatives, in infrastructure sectors and infrastructure-related sectors and a maximum of 35 per cent in debt and money market securities.

The benchmark index for the scheme is the BSE 100.

This is the right time to invest in infrastructure and infrastructure-related companies as this is a key sector that is likely get a boost from the new Government, said Mr Sikka.

About the amount expected to be collected from the new fund offer, the Chief Executive Officer said, “We aim at getting at least 10 lakh investors in the fold and target about 1,000 cities and towns.”

More Stories on : New Fund Offer | Infrastructure

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