What are the prospects of infrastructure-specific mutual funds for the next five to seven years?
- Suraj B. Singh
I would urge most investors to keep away from infrastructure funds. I just don't like them because the definition of infrastructure is very loose. Any fund can be an infrastructure fund if not investing in technology and pharma. They don't deliver anything substantial, and they are constrained by calling themselves infrastructure funds.
We have seen there was a boom in infrastructure funds. These funds did well; the underlying companies did well, maybe about 13 years back. The good times of infrastructure funds were over by 2008, and ever since, we have been waiting for that turnaround, but it has not happened. We see that they do spurt intermittently, but keep off these funds. They have proved to be extremely disappointing over a long period and are unnecessarily constrained.
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