Date:15/02/2006 URL: http://www.thehindubusinessline.com/2006/02/15/stories/2006021502281500.htm

Back Sahara unveils infrastructure fund

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Mr Rajiv Shastri (left), CEO, Sahara Mutual Fund, with Mr Naresh Kumar Garg, Chief Investment Officer, at a press conference in Mumbai on Tuesday. — Paul Noronha

Mumbai , Feb. 14

SAHARA Mutual Fund, part of Sahara India Pariwar, on Tuesday announced the launch of Sahara Infrastructure Fund, an open-ended growth fund. The new fund offer opens on February 15 and closes on March 10.

The Sahara Infrastructure Fund aims to provide long-term capital appreciation by capitalising on the robust economic growth the country is expected to post over the next decade, said Mr Rajiv Shastri, CEO of Sahara Mutual Fund, addressing a press conference here."Robust infrastructure is the foundation for a country's economic aspirations," he said, adding that the country would witness a substantial increase in infrastructure requirements in the coming years, if its growth momentum is to be sustained and enhanced.

"This infrastructure revolution would require substantial investments in all sectors that encompass `infrastructure.' Sahara Infrastructure Fund is an opportunity to benefit from this phenomenon," Mr Shastri said.

Mr Naresh Garg, Chief Investment Officer, said the fund would invest at least 70 per cent in equity and up to 30 per cent of net assets in debt/money market instruments for providing liquidity and preservation of capital.