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Reliance Anil Dhirubhai Ambani group-promoted Reliance Mutual Fund introduced a new dedicated infrastructure fund to invest in companies engaged in infrastructure and related sectors. The newly launched Reliance Infrastructure Fund will make investment in infrastructure and infrastructure-related firms to generate long-term capital appreciation. Informing more, Reliance Capital Asset Management CEO Sundeep Sikka said that it will invest in equity and equity-related instruments of companies engaged in infrastructure.
He said that the new fund will make investment in equity of companies engaged in transport, banks and financial institutions, energy, power and oil, metals and minerals, telecom and urban infrastructure. Sundeep Sikka stated that it is a perfect time to make investments in infrastructure and related firms as the sectors is expected to get adequate back-up from the new Congress-led UPA government.
Sikka said that infrastructural development is one of the key priorities of India and Reliance Mutual Fund is willing to spend on this sector. The new Reliance Infrastructure Fund has two plans viz: Retail and Institutional. About 65 percent asset of the fund will be invested in engineering, cement, power stocks and banks while the rest will go to debt and money markets.
Sikka expects that a large number of investors will participate in the ever-growing sector of infrastructure with long-term capital appreciation. The new infra fund will close on June 23, 2009. Reliance Mutual Fund is currently managing an amount of over Rs 88,388 crore for over 71-lakh investors.
