ICICI Prudential launches real estate fund

Mumbai Nov 15 (UNI) ICICI Prudential AMC today launched ICICI prudential real estate securities fund, a three year close ended debt fund designed for investment in real estate sector.

The fund will mainly invest in high yielding debt securities issued by companies that are associated with the real estate sector.

Speaking on the new fund, Nimesh Shah, Managing director, ICICI prudential assest management company said,'' Indian real estate sector is growing rapidly and is expected to register a growth rate of over 30 per cent in next five years, thus through this fund investors will get an opportunity to participate in this promising sector''.

ICICI prudential asset management company is a joint venture between ICICI bank and Prudential plc, one of UK's largest player in the financial service sector.

UNI