T. Rowe adds mutal fund of infrastructure firms

February 12, 2010

Baltimore's T. Rowe Price Associates announced Thursday the launch of a growth and income mutual fund that invests in infrastructure-related companies, such as those involved in building roads, tunnels and other essential services in countries worldwide. The Global Infrastructure Fund will invest in 60 to 90 companies in at least five countries, including emerging markets where infrastructure development is a priority, the company said. Fund manager Susanta Mazumdar, who works out of Price's Singapore office, said in a statement that he expects increased spending over the long haul by developed markets needing to repair or replace decaying infrastructure and by emerging markets trying to modernize.

- Eileen Ambrose

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