T Rowe Price to set up infra fund

Global asset management firm T Rowe Price will launch its global infrastructure fund that will invest in the infrastructure sector in global stock markets, including India. The fund will be domiciled in Luxembourg and is expected to be launched in January.

"T Rowe Price already has an Asian equity fund that has around 12 per cent exposure to India and some exposure to infrastructure. When we spoke to them, they were looking to launch a pure-play infrastructure fund," said Sandesh Kirkire, CEO, Kotak Mahindra Asset Management Company.

The scheme is benchmarked against the S&P CNX Nifty to the extent of 65 per cent of the portfolio and MSCI World Index to the extent of 35 per cent of the portfolio.