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IDFC Mutual Fund on Thursday launched an open-ended equity fund – IDFC Infrastructure Equity Fund. The fund aims to generate long-term capital growth through an active diversified portfolio of predominantly equity and equity-related instruments of companies that are participating in and benefiting from growth in Indian infrastructure and infrastructural related activities, said a statement from the company.
The new fund offer for the fund will open on February 14 and close on February 21.
The minimum investment into the fund during the NFO will be Rs 5,000.
Right time
“IDFC infra fund has been launched at a time when we believe that valuations in this sector are very attractive and there may be huge investment appreciation ahead,” said Mr Kenneth Andrade, Head – Investments, IDFC Mutual Fund, at the press meet. However, the fund will have exposure to the realty companies only on the equity side, as the fund house deems the equity exposure in these companies safer, as compared with debt exposure.
The fund will invest 80-100 per cent in equity or equity-related instruments, while 0-20 per cent will be in debt and money market instruments.
The benchmark for the fund is BSE 200 index. The fund will define infrastructure using benchmark definitions of the RBI and World Bank.
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