IL&FS MF launches e-com Fund

BANGALORE: Infrastructure Leasing and Financial Services (IL&FS) Mutual Fund has announced the launch of its IL&FS eCom Fund. Officials said the fund would invest not only in e-commerce ventures but also in sectors driven by technology such as information technology, telecom, media, and entertainment.

IL&FS Asset Management Company managing director Vibhav Kapoor said, "We feel that this sector has growth potential, hence the fund." The fund has set a target of minimum subscription of Rs 1 crore and the minimum application amount is Rs 10,000. The offer closes on January 31.

The scheme offers two plans for the investors - the dividends plan wherein dividends, if any, will be declared annually and the growth plan wherein investors can seek cumulative growth through capital appreciation. "IL&FS is the only fund to offer investors the facility of automatic exit," marketing chief A. K. Ohri said. Under this facility, investors can indicate the price or the time when they would like to exit from the scheme in the application form itself.