Tata Mutual's global fund collects Rs 22 bn
The Economic Times — October 30, 2007

Tata Asset Management said on Tuesday it has collected about 22 billion rupees from 0.43 million applicants in its three-year close-end Tata Indo-Global Infrastructure Fund that closed for subscription on October 17.

This makes it the largest Indian equity fund with mandate to invest in the international markets and also the largest equity fund for the asset manager.

Indian regulations allow fund firms to invest up to $300 million in the overseas markets within an overall industry limit of $5 billion. Tata's global fund will invest a part of its assets in overseas securities.

Tata Mutual Fund managed assets worth about 174 billion rupees at the end of September, data from the Association of Mutual Funds in India showed.