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Our Bureau

Mumbai, Feb. 18

Tata Mutual Fund on Monday launched a new scheme — Tata Growing Economies Infrastructure Fund.

The open-ended fund would invest in around 80 companies, including domestic as well as global, Mr Ved Prakash Chaturvedi, Managing Director, Tata Asset Management Ltd said.

The fund hopes to take advantage of the opportunities in the infrastructure space not only in the domestic market but in the other growing economies globally, he said,

The fund has two options; under Plan A at least 51 to 70 per cent of the net asset would be invested in geographies outside India and in Plan B up to 65 to 85 per cent of the asset would be allocated for overseas investment.

The new fund offer opened on February 18 and will close on March 18.

“We believe there are many economies of scale that are experiencing enormous growth in infrastructure development just like India,” Mr Chaturvedi said.

For the fund, growing economies means those countries where average GDP growth rate for past three years is 2 per cent or more.

In the current scenario, developed economies such as USA, Japan, France, Italy, Denmark, Belgium among others may not qualify as growing economies.

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