Baroda Pioneer AMC today announced the launch of a PSU equity fund — an open-ended scheme — which will invest in a diversified basket of equity stocks of domestic public sector undertakings (PSUs).
The new fund offer will open for subscription on September 13 and close on September 24, said a news release from the company.
"PSUs operate in high growth sectors such as banking, infrastructure, oil and gas, power, minerals and are, thus, very diversified. Only a few of the consumer-related sectors are not included in the PSUs basket. We will be investing in around 35 stocks of the PSUs." said Mr Rajan Krishnan, CEO, Baroda Pioneer AMC.
The fund will invest 65 per cent in equity and equity-related instruments and the balance will be invested in debt and money market instruments. The minimum application will be of Rs 5,000 and in multiples of Re.1 thereafter.
Source: http://www.thehindubusinessline.com/2010/09/14/stories/2010091451281100.htm
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