Mumbai, Jan 10 (UNI) AIG Investments has announced the launch of AIG Infrastructure and Economic Reform Fund, an open ended equity sheme.
The new fund offer, priced at Rs ten per unit, will remain open for purchase till January 31.
Talking to newspersons here today, AIG Global Asset Management Company (India) CEO Saurabh Sonthalia said, ''The investment objective of the scheme is to generate long-term capital appreciation from a diversified portfolio of predominantly (at least 65 per cent) equity and equity-related securities of companies involved in economic development of India.
However, there can be no assurance that the investment objective of the scheme will be realised as actual market movements may be at variance with anticipated trends, he admitted.
The fund would remain fully invested upto 95 per cent in equity and equity related securities and will have only five per cent in short-term debt and money market instruments to meet short-term liquidity requirements of the scheme, he said.
Meanwhile, speaking to UNI on the sidelines of the launch, India American International Group country head and chief executive Sunil Mehta said, ''Investors in the scheme are not being offered a guranteed or assured rate of return. The scheme does not guarantee or assure any dividend and also does not guarantee or assure that it will make any dividend distribution, though it has every intention to make the same.'' UNI AR MAZ SM1603