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Tuesday, November 27, 2007

More Infra-Centered Funds Seen to Enter the Market

by: Armie Margaret Lee

A Morningstar analyst sees more infrastructure-focused funds making their way to the market, Bloomberg reports. U.S. Global Investors and Kensington Investment Group earlier this year came out with their respective mutual funds focusing on companies involved in building and operating infrastructure. Those offerings are the first mutual funds in the U.S. with that focus. Morningstar analyst Michael Herbst noted that since countries will continue to plunk down a great amount of money into infrastructure, "there is a case to be made for companies that will be beneficiaries of this boom. I would expect to see more such funds open." The U.S. Global MegaTrends Fund rose 3.7 percent through November 7 since its launch in October, while the Kensington Global Infrastructure Fund gained 12 percent through November 7 since its debut in June.  

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