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IDFC's new fund to take concentrated bets

MUMBAI
Fri Aug 29, 2008 5:11am EDT

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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.


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