Objective: The scheme seeks to offer capital appreciation through investment in companies engaged either directly or indirectly in infrastructurerelated activities.
Benchmark: S&P CNX 500
Fund manager: Anand Radhakrishnan
Asset allocation: 70-100% - equity and equity-linked (Of this, 65-100% will be in the infrastructure sector); 0-30% - debt and cash equivalent
Comparable existing schemes:
Fund name - ICICI Pru Infrastructure Fund
NAV* (Rs) - 23.38 (as on 9 July; Source: NAVIndia)
6-month return (%) - 37.69
1-year return (%) - 0.30
FUND PROGNOSIS
Idea distiller: Infrastructure spending seems to be the way out of the global recession and the Indian government has signalled its intent to use this method to invigorate the economy. The fund house believes this will provide a fillip to the sector and opportunities for investors.
Fund house report: Franklin Templeton AMC manages assets worth Rs 25,473 crore across 87 schemes (as on 30 June). Returns Profile - 3/5; Risk Profile - 5/5
Who should apply: Only those investors who are specifically looking for an infrastructure fund.
Comments: The fund manager is the best in the organisation, but the fund house has not been performing too well. While infrastructure shows promise, there are over 25 schemes based on this theme that are already in the market, and some of these have proven track records. So there is no distinguishing factor that makes this fund a better pick than the others.
