Tata Mutual Fund announced on Monday the launch of its close-ended equity scheme -- Tata Indo-Global Infrastructure Fund.
The scheme has a maturity of three years when it will automatically be converted into an open-ended scheme, a release said in Mumbai on Monday.
The new fund offer, priced at Rs 10 per unit, opens on Monday and will close on October 16.
The investment objective of the scheme is to generate long-term capital appreciation by investing predominantly in equity and equity-related instruments of companies engaged in infrastructure
and related sectors.
The fund will invest 65-85 per cent in equity and equity-related instruments of domestic companies, 15-35 per cent in foreign securities as permitted by Sebi and RBI and up to 35 per cent in debt and money-market instruments.
"With the launch of Tata Indo-Global Infrastructure Fund, we have endeavoured to provide investors an opportunity to earn stable returns by investing in infrastructure assets across diversified geographic regions," Tata Asset Management Limited managing director, Ved Prakash Chaturvedi, said.
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