T. Rowe Price has launched a new mutual fund that will invest in companies that it believes will benefit from the developing world's need for new infrastructure, or, in the case of developed countries, an infrastructure rebuild, "around the world, including the U.S.," according to the company's February 11 announcement. The Global Infrastructure Fund (TRGFX), will invest in "60-90 companies of all sizes in various regions," typically in a minimum of five countries, with "significant exposure to emerging markets, where infrastructure development is prioritized."
The fund's Portfolio Manager, Susanta Mazumdar, will be based in T. Rowe Price's Singapore office. "At present, we are seeing particularly attractive investment opportunities in emerging markets. These economies will see the highest increase in infrastructure spending, and we expect the fund's exposure to emerging markets to increase over time. The U.S. and Europe will usually represent the largest regional allocations in the portfolio," he said in the announcement.
Comments? Please send them to email@example.com. Kate McBride is editor in chief of Wealth Manager and a member of The Committee for the Fiduciary Standard.