Date:05/02/2006 URL: http://www.thehindubusinessline.com/bline/iw/2006/02/05/stories/2006020501831000.htm

Back Birla MF launches Infrastructure Fund

BIRLA Mutual Fund has launched Birla Infrastructure Fund. This diversified equity scheme plans to invest in equities of companies participating in the growth and development of infrastructure in India.

The new fund offer (NFO) will be open for initial subscription from January 31 to February 18. The fund will charge an entry load of 2.25 per cent. An exit load of 1 per cent would be charged for redemption made within six months of allotment.

Prudential ICICI Mutual Fund has launched a closed-ended diversified equity fund called Prudential ICICI Fusion Fund. The fund seeks to invest in large, mid and small-cap stocks and has a maturity period of five years.

There is no entry load on investments made. Although close-ended, the fund would offer repurchase facility at quarterly intervals on every 15th day from the end of a quarter. The initial offer will be open on February 01 and close on February 27.

Kotak Mahindra Mutual Fund has launched a diversified equity fund named Kotak Lifestyle Fund. It aims to invest in stocks of companies that may benefit from changing lifestyle and rising consumerism in India.

The fund will invest 65 to 100 per cent of assets in equities and can also invest up to 35 per cent in debt. No entry load will be charged. An exit load of 2 per cent will be charged if redeemed within 6 months. The exit load would be 1 per cent if redemption is made after 6 months but within 12 months. The NFO is open from January 24 to February 22.

ING Vysya Mutual Fund has launched a diversified equity fund called ING Vysya A.T.M (Against The Market) Fund. The fund aims to adopt the contrarian strategy to invest 75-100 per cent of its assets in equities and up to 25 per cent in money market instruments.

There will be no entry load during the initial offer period. An exit load of 2.25 per cent will be charged for redemption made within 180 days. The new fund offer is open from January 27 to February 20.