Bangalore, Feb 22 (UNI) Sahara Mutual Fund, part of the Sahara India Group, has announced the launch of Sahara Infrastructure Fund, an open-ended growth fund, which opened on February 15 and would close on March ten.
Speaking to newspersons here today, Sahara Mutual Fund Chief Executive Officer Rajiv Shastri said the Infrastructure Fund was expected to receive long-term capital appreciation by capitalising on the robust economic growth of the country.
He said the investment objective would be to provide income distribution and medium to long term capital gains by investing predominantly in equity and equty related instrument of companies in the infrastructure sector. The focus area of Sahara was to invest in those infrastructure areas which would give immediate benefit to the public and not over the next 15 to 20 years. The proceeds from the mutual funds were planned to be invested in social and financial infrastructure areas, including housing, sanitation, drinking water and banking sectors, he added.
Mr Shastri said the fund would invest at least 70 per cent in equity and its related instruments and up to 30 per cent of net assets in debt/money market instruments for providing liquidity and preservation of capital. The investment options were Growth, Dividend payout and Divident Reinvestment. The fund also offered Fixed Pricing and Variable Pricing options. Under the Variable Pricing Option, the AMC fee earned by the company depended on the scheme's daily performance.
He said Sahara Mutual Fund currently managed four equity funds, which have outperformed their respective benchmarks by a significant margin.
UNI MV GD GM1455