Baroda Pioneer Mutual Fund on Monday launched Baroda Pioneer PSU Equity Fund. The scheme will invest in shares of 30-35 public sector units (PSU). The portfolio may also consist of initial public offers (IPOs) and follow-on offers (FPOs) of PSU companies. The fund may have a debt exposure of up to 35 per cent of the portfolio. The scheme opens for subscription on September 13, 2010 and closes on September 24.