• Most Popular
  • Most Shared

IDFC's new fund to take concentrated bets

MUMBAI
Fri Aug 29, 2008 5:11am EDT

Stocks

   

MUMBAI (Reuters) - Indian mutual fund firm IDFC Asset Management launched an equity fund on Thursday that would invest half of its assets in one sector and the rest in firms across market capitalisations and sectors.

IDFC Strategic Sector (50-50) Equity Fund can also invest up to 35 percent of its assets in debt and money market instruments, the firm said in a statement.

The fund house, a unit of India's Infrastructure Development Finance Co. (IDFC.BO), had an average assets of about 117 billion rupees at the end of July, data from the Association of Mutual Funds in India showed.


More from Reuters

A Greenpeace activist dressed as one of the "Four Horsemen of the Apocalypse" rides outside the parliament building during a brief protest in Copenhagen December 13, 2009. REUTERS/Christian Charisius

The face of climate protest

Protesters around the globe called for an end to global warming as climate talks in Copenhagen entered their sixth day.  Video 

    Climate conference
    President Barack Obama (R) meets with financial services industry leaders in the Roosevelt Room of the White House in Washington December 14, 2009. REUTERS/Larry Downing

    Obama takes "fat cats" to task

    Backed by Americans outraged by multi-billion dollar bailouts, President Obama met with a dozen of Wall Street's top bankers in a bid to crack down on the so-called "fat cats" largely held responsible for the financial crisis.  Full Article 

    Executive Compensation
    Lockheed Martin Chief Executive Robert Stevens answers a question during the Reuters Aerospace and Defense Summit in Washington December 14, 2009. REUTERS/Molly Riley

    Lockheed eyes deals

    The future demands of cybersecurity make that sector one of many the aerospace giant sees as an acquisition target in the coming year.  Full Article 

    Aerospace and Defense Summit