New NFO's and news

AIG Infrastructure and Economic Reforms Fund — A diversified theme

The fund: AIG Infrastructure and Economic Reforms Fund is an open-ended equity fund that aims to invest in companies that are likely to benefit from the above-mentioned issues. This includes sectors such as cement, metals and capital goods. Identification of economic reforms early on and the opportunities they would create for such sectors as banking or financial services, retail and investment is also one of the fund’s objectives.

Risk profile: Given the above investment strategy, the fund’s universe appears more diversified than regular theme funds and may therefore carry lower risks than concentrated sector funds. Nevertheless, the fund would call for more active entry and exit strategies by an investor than warranted by diversified equity funds. The fund could at best be a diversification option for the portfolio.

Pros and cons: A good number of existing funds with an infrastructure/capital goods theme do have a broad based investment universe in their mandate. For instance, Tata Infrastructure has substantial exposure to metals and financial services. There are also funds that seek to capitalise on opportunities that arise from capex spending.

AIG Infrastructure’s key distinguishing feature may be its plan to identify companies that have ‘multi-year opportunities’ that would outlast the primary infrastructure development. These companies may participate in infrastructure building but later branch out to complementary areas once the primary infrastructure needs are met.

However, given the plethora (over 15) of funds with a broadly similar theme now available in the market, AIG may at best be one more option in the space for now. Funds that entered at an early stage of the infrastructure spending by the Government have been the ones that have delivered the best performance. The fund house also has a limited track record in India, managing one diversified equity fund, AIG India Equity launched in May 2007.

Details: The offer closes on January 31. Mr Tushar Pradhan is the manager.

Source :Hindu

Fund Name : Reliance Natural Resources Fund from ADAG Reliance Mutual fund(Reliance Capital Asset Management Ltd.)

Issue Open 01-Jan-2008 and Closes on 30-Jan-2008

Scheme ObjectiveReliance Natural Resources Fund is an open-ended equity scheme.

To invest and generate capital appreciation & provide long-term growth opportunities by investing in companies principally engaged in the discovery, development, production, or distribution of natural resources .

Fund Class Equity Diversified/Open-EndedInvestment plan GrowthFund Manager Ashwani KumarEntry Load 2.25 %/Exit Load 0.00 %

SBI Mutual Fund has launched SBI Tax Advantage Fund - Series I, a 10-year close ended Equity Linked Savings Scheme.

The scheme opens for subscription on Dec. 03, 2007 and closes on Mar. 03, 2008.

The units of the scheme will be available at Rs 10 per unit during the New Fund Offer period.

ObjectiveSBI Tax Advantage Fund - Series I aims at generating capital appreciation over a period of ten years by investing predominantly in equities of companies across large, mid and small market capitalization, along with income tax benefit.

The scheme does not offer facility of Systematic Investment Plan and Systematic Withdrawal Plan.

The scheme aims at raising a minimum of Rs 30 million during the New Fund Offer Period.

Investment made in the scheme will qualify for a deduction from Gross Total Income upto Rs 100,000 (along with other prescribed investments) under section 80 C of the Income Tax Act, 1961.

Asset AllocationThe scheme aims at investing 80% to 100% in equity and equity linked instruments and 0% to 20% in debt and money market instruments.

Load StructureAs it is a close-ended scheme there will not be any entry load further the scheme will also not charge any exit load.Investment Strategy

The investment strategy of the fund will be to invest in equities of companies, which will be highly tilted towards midcap companies that have the potential to grow at a reasonable rate in the long term.

.Performance and ManagementThe performance of the scheme will be measured against BSE 100 and the fund manager is Ritesh Sheth.

Sorce :IRIS


JM Financial MF launches JM Core 11 Fund-Series I

JM Financial Mutual Fund launched JM Core 11 Fund-Series I. It is a three-year close-ended equity oriented growth scheme with multiple series launched thereafter at such periods as may be decided by the AMC. The investment objective of the fund is to provide long-term growth by investing predominantly in a concentrated portfolio of equity and equity related instruments of companies. The fund will invest 65%-100% in equity and equity related securities with medium to high-risk profile. The fund will invest 0%-35% in money market and debt instruments including securitised debt. Securitised debt will not include foreign securitized debt. Exposure to derivatives would be capped at 50% of equity portfolio of the scheme.