For Quick Alerts
For Daily Alerts

Indiabulls MF Plans Scheme on 'Make in India' Drive


New Delhi, Apr 16 (PTI) Indiabulls Mutual Fund has approached markets regulator Sebi to launch a scheme, which will invest in sectors including manufacturing and renewable energy that are expected to benefit from the Centre's Make in India initiative.

Prior to Indiabulls Mutual Fund, several fund houses including ICICI Prudential MF, Pramerica MF and Birla Sun Life MF have filed draft papers with Sebi to launch schemes focused on the initiative.

Indiabulls MF Plans Scheme on 'Make in India' Drive

Apart from these, a number of fund houses are expected to come up with new schemes that will invest in manufacturing companies, industry experts said.

Indiabulls MF, which has filed offer documents with Sebi, plans to launch an open ended equity scheme Indiabulls Make in India- Target Return Fund.

The scheme is aimed at investment in equity and equity-related securities that are likely to benefit from the government's 'Make in India' drive.

"The scheme aims to invest in companies that manufacture goods and that have/will have manufacturing facilities. The scheme also aims to invest in such companies that are currently taking initiatives to invest in new production or manufacturing facilities," as per the draft documents.

Several sectors listed under 'Make in India' initiative include manufacturing, roads and highways, ports, renewable energy and railways.

Prime Minister Narendra Modi in September last year had launched the 'Make In India' campaign, in a move to revive the job-creating manufacturing secto


Read more about: indiabulls mf make in india
Story first published: Thursday, April 16, 2015, 14:22 [IST]
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more