Kothari Pioneer Set To Launch Pharmaceutical, Fmcg Funds

Kothari Pioneer Mutual Fund (KPMF) plans to launch FMCG and pharma-dedicated funds shortly.

"We are planning to launch a couple of sector-specific funds after testing the response to the infotech fund. Since pharma and FMCG are the only sectors, apart from software, that are doing well, we will go in for these two sectors," said Prem Khatri, vice-president, marketing, KPMF.

The mutual fund is also planning to launch a fund which will invest in overseas markets. The infotech fund has a provision for investing part of the money in overseas markets as and when the Securities and Exchange Board of India clearance comes through.

 

"However, we are planning to launch a fund dedicated purely to overseas markets rather than invest from any of the existing schemes," Khatri said.

KPMF has targeted a mop-up of Rs 20-25 crore for its infotech fund which is open for subscription till August 22. "Around Rs 20-25 crore is a modest target considering the fact that the UTI Index fund managed to garner about Rs 70 crore. We have received a fairly good response from prospective investors, but we have to wait and see how much of it actually translates into investment," Khatri said. "We are targeting the retail investors more than institutions. Of course, money from all quarters are welcome, but we are concentrating more on retailers as this product is basically meant for them," he added.