Tata Mutual Fund has collected about Rs. 2,200 crore from Tata Indo Global Infrastructure Fund whose subscription closed on 17 October 2007. The scheme received an overwhelming 4.3-lakh applications during the NFO period. This makes it the largest Indian equity fund that closed for subscription with mandate to invest in the international markets and also the largest equity fund for the asset manager. SEBI has permitted fund firms to invest up to $ 300 million in the overseas market with an overall industry limit of $ 5 billion. Tata Indo-Global Infrastructure fund is a 3-year close-ended equity scheme with an automatic conversion into an open-ended equity scheme on expiry of 3 years scheme from the date of allotment.
The investment objective of the scheme is to generate long term capital appreciation by investing predominantly in equity and equity related instruments of companies engaged in infrastructure and infrastructure related sectors and which are incorporated or have their area of primary activity, in India and other parts of the world. Tata global infrastructure fund will invest in infrastructure companies in India and abroad.
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