
Canbank Mutual Fund has launched an equity fund which will invest in stocks of companies operating in the infrastructure sector. Named as CanInfrastructure Fund, it will be benchmarked against BSE 100 index. The fund will be initially available for subscription from October 11 to November 9, 2005.
CanInfrastructure will invest 75-100 per cent of its assets in stocks of companies in the infrastructure sector. It can also invest up to 25 per cent of its assets in debt and money market instruments. During the new fund offer period, the fund will not charge any entry load. An exit load of 2 per cent will be levied on investments of less than Rs 3 crore if redeemed within 6 months from allotment, while no exit load will be charged on investments of an amount greater than or equal to Rs crore.