Reliance Mutual Fund launches infrastructure fund

MUMBAI: Reliance Anil Dhirubhai Ambani group-controlled Reliance Mutual Fund, on Wednesday annnounced the launch of its Reliance Infrastructure Fund.

The infrastructure fund, an open-ended fund, will invest predominantly in companies engaged in infrastructure and infrastructure-related sectors in the country, Reliance Capital Asset Management CEO, Sundeep Sikka, told reporters here.

The primary investment objective of the fund will be to generate long-term capital appreciation. It will invest in equity and equity-related instruments of companies engaged in infrastructure and infrastructure-related sectors like transport, banks and financial institutions, energy, power and oil, metals and minerals, telecom and urban infrastructure amongst others.

"Infrastructure is a key priority for India and we hope a spurt of infrastructure spending in the economy on the back of a stable Government and ease of project financing," Sikka said.

The right time is now to invest in infrastructure and infrastructure-related firms, a sector which is likely to get a boost from the new Government, he said.