In their newest scheme of things to boost make in India campaign, mutual fund houses are currently contemplating a special scheme focusing on the manufacturing sector, which is expected to get a big boost from the on-going drive. In this connection, ICICI Prudential Mutual Fund (MF) has recently filed offer documents with market regulator Sebi to launch an open ended equity scheme 'ICICI Prudential Manufacture in India Fund'. In addition, Pramerica MF has also filed draft papers to launch 'Pramerica Build in India Fund.' Besides, Birla Sun Life manufacturing equity fund is already in the launching process.
These schemes are aimed at investment in equity and equity-related securities that are likely to benefit from the government's 'make in India' campaign. These apart, a large number of fund houses are expected to come up with new schemes that will invest in manufacturing companies, industry experts said, explaining that economic recovery, resurgence of the business cycle and e-commerce are other themes that are attracting mutual fund houses.