IDFC Mutual Fund launches infrastructure fund

Mumbai, Feb 10 (PTI) IDFC Mutual Fund today announcedthe launch of an infrastructure fund that aims to generatelong-term capital growth through a diversified portfolio ofpredominantly equity and equity-related instruments.

IDFC Infrastructure Fund is an open-ended scheme.

The scheme''s investment objective is to generate long-term capital growth through an active diversified portfolio ofpredominantly equity and equity-related instruments of firmparticipating in and benefiting from growth in infrastructureand related activities, the private fund house said.

The NFO opens for subscription on February 14 andcloses on February 28.

"The fund has been launched at a time when we believethat valuations in this sector are very attractive and theremay be huge investment appreciation ahead," IDFC MF HeadInvestments, Kenneth Andrade, told reporters here.

It will be benchmarked against the BSE 200 Index. Thescheme will have up to 80-100 per cent exposure in equity andequity-related securities and 0-20 per cent in debt and moneymarket instruments, he said.

The government has proposed Rs 50,000-croreinfrastructure fund to support private sector investments inPPP projects.