UTI AMC launches Infrastructure Advantage Fund

New Delhi, Nov 12: UTI Asset Management Company Ltd (UTI AMC) today launched UTI-Infrastructure Advantage Fund, a three year close-ended Equity Scheme with an objective to invest in companies engaged directly or indirectly in infrastructure sector and expects to raise Rs 4,000 crore from the NFO.

The fund opens November 12 and closes December 19 and will invest in sectors including construction, energy, engineering, metals, power, telecoms, transport and airports, the fund house Chief Marketing Officer Jaideep Bhattacharya said.

A minimum investment of Rs 5,000 rupees has been set for the fund with no entry or exit loads.

''India is at the pink of its health and with the government planning to invest over Rs 20 lakh crore in the 11th five year plan, the fund should do very well,'' Mr Bhattacharya.

UTI is also looking aggressively at retail investors from the West Asia and expect aroun 10 per cent of the capital to come from Indian's in West Asia.

''Till now NRIs in West Asia were investing through their ruppe based cheques. However, we have now tied up with Standard Chartered Bank to enable investors to invest through Dirham cheques,'' Mr Bhattacharya said.

UTI AMC has also tied up with DHL under which the logistics company will pick-up application forms from retail investors and the cost of the same will be borne by UTI AMC.

UNI