The Union Budget announcements include a lot of concessions to the infrastructure sector to encourage growth, and that makes it a very attractive sector.

We intend to cash in on it, said Vijay Advani, president and chief executive officer of

Templeton India Growth Fund had collected the entire amount by August 30, one day prior to the extended closing date.

The asset management company had sought permission for extension of the closing date of the scheme from August 26, since it was expecting some overseas cheques in the following two days.

Sam J Forrester, managing director of Templeton Worldwide, said an investment strategy for the amount collected will be chalked out shortly.

The company will go ahead with its plans despite poor sentiment prevailing in the markets, Forrester said.

We have always been bullish on India in the long term, hence that (dull market) has not affected us, he said.

On the plans for floating a fixed income scheme, Forrester said Templeton intends to launch it ideally by the first quarter of next year.

On the current trend for debt issues, Forrester said this is not a new phenomenon. The taste for fixed income products is a short-term one and I am absolutely sure that in a period of about three years, the India Growth Fund would have outperformed the fixed income scheme, he said.

Templeton has also firmed up plans for foraying into the private equity segment.

We are looking seriously at direct investments in India, Forrester, said. Templeton is in negotiations with the Exim Bank of India for assistance in the venture. Templeton AMC has already set up a branch office in Bangalore and is looking towards the North to open an office.