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Our Bureau

Mumbai , Feb. 1

BIRLA Mutual Fund has launched the Birla Infrastructure Fund - an open-ended growth scheme. The minimum investment is Rs 5,000 and the scheme has dividend (payout and reivestment) and growth options.

Birla Infrastructure Fund is a diversified equity fund, which will target growth of capital by investing in equity or equity-related instruments of companies that are participating in the development of infrastructure.

According to Mr S.V. Prasad, CEO, "Infrastructure is a distinct asset class in itself. It comprises multiple sectors and industries. With the economy expected to grow at 7.5-8 per cent this fiscal, the infrastructure is also expected to show a robust growth."

According to the company, the size of the opportunity is quite large considering that the Government is envisaging power for all by 2012. More than 1,00,000 MW of power is envisaged to be added during the 10th and 11th Plans. The company expects approximately Rs 2,46,000 crore of proposed investment in the next five years to be in these segments.

The Scheme will focus on investments in sectors, which are expected to benefit from the increased spending on infrastructure facilities.

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