Infrastructure fund from SBI Mutual

Mumbai: SBI Mutual Fund has launched `SBI Infrastructure Fund - Series I'', which is a three-year close-ended growth fund that will invest in the equity of a diversified basket of companies directly or indirectly involved in infrastructure and in the debt markets.

The new fund offer opens on May 11 and closes June 8. The minimum application for the scheme is Rs5,000. The fund will have growth and dividend investment options.

Fund officials said the fund will have a top-down approach to identify and create a diversified portfolio of companies and will have no sectoral or market capitalisation bias.

The fund will invest a minimum of 65 per cent in equity and equity-related instruments, including derivatives, and the balance may be invested in a mixture of debt and money market instruments. The fund has been benchmarked against the BSE 100 index. The fund may also invest up to 10 per cent of its corpus in private equity or unlisted stocks of companies in the infrastructure space.