March 31, 2026
RA Jainee
Tata Infrastructure Fund
| Fund at a Glance | |
| NAV Growth (Rs.) | 168.63 |
| NAV Bonus (Rs.) | — |
| NAV IDCW (Rs.) | 88.35 |
| Min. Investment (Rs.) | 5,000 |
| Min. SIP Investment (Rs.) | 100 |
| Min. No of Cheques | 6 |
| Benchmark | BSE India Infrastructure TRI |
| AUM Rs. | 2,014 Cr |
| (As on 28-Feb-2026) | |
| Expense | 1.17% |
| 1 Year Return (%) | -0.99 |
| 3 Year Return (%) | 17.17 |
| 5 Year Return (%) | 17.83 |
| 10 Year Return (%) | 15.35 |
| Return Since Launch | 13.93% |
⚖️ Sahifund Review – Tata Infrastructure Fund ✔
PLUS: Long history, diversified infra basket, low churn
✓ Tata Infrastructure Fund offers a long operating history and has still delivered a respectable 17.17% 3-year and 17.83% 5-year return, which shows the theme can create wealth over cycles.
✓ The fund is spread across 60 stocks, which gives better diversification than many concentrated sector funds and reduces single-stock risk.
✓ It also carries a meaningful small-cap and mid-cap participation, which can help capture infra-led growth beyond just large PSU or EPC names.
✓ Turnover at just 5.69% is impressively low, showing a disciplined and patient portfolio approach rather than excessive churn.
✓ Tata Mutual Fund as a fund house adds comfort, and the fund remains relevant for investors wanting long-term infrastructure theme exposure through SIP.
MINUS: Clear peer underperformance, high cost, weak category standing
⚖️ The biggest issue is simple: performance has lagged badly versus both benchmark and category peers across 1-year, 3-year, 5-year and 10-year periods.
⚖️ Peer comparison looks weak against stronger funds like ICICI Prudential Infrastructure, DSP TIGER and Franklin Build India, which have delivered much better returns.
⚖️ Expense ratio at 1.17% is on the higher side for a fund that has not rewarded investors with category-leading alpha.
⚖️ With 44.16% small-cap exposure, the fund can remain volatile, while its 1-star rating and below-average return grade reflect that this is currently not among the stronger infrastructure choices.
Sahifund View (Decisive Line):
Tata Infrastructure Fund offers theme exposure with decent diversification, but investors looking for serious infrastructure alpha currently have better alternatives in the category.
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| NFO Guidance |
What lies ahead? Below we decode returns consistency, portfolio concentration, peer positioning and risk profile in detail.
Suitable For Which Investors?
Nobody should invest in Infrastructure funds in our opinion, because:
They have a narrow focus on only infrastructure related companies
Instead, diversified equity funds which invest across sectors/themes are better
If you still choose to invest:
1. Invest only through SIP
2. Have a 7+ year investment horizon
3. Be prepared to withstand interim sharp declines in investment value
Fund’s Investment Strategy:
The scheme aims to provide income distribution and medium to long term capital gains by investing predominantly in equity or equity related instruments of the companies in the infrastructure sector.
Fund Manager:
1) Abhinav Sharma
Education: Mr. Sharma holds B.Tech degree from IIT Kharagpur & PGDCM from IIM Calcutta.
Experience: Prior to joining Tata Mutual Fund he has worked with Taurus mutual fund, ING Vysya Life Insurance as Sr. Manager (Investments), Edelweiss Securities as Manager (Research & Investments) & ICICI Lombard General Insurance as Investment Manager.
Investment Details
| Min. Investment (Rs) | 5,000 |
| Min. Addl Investment (Rs) | 1,000 |
| Min. SIP Investment (Rs) | 100 |
| Min. Withdrawal (Rs) | 500 |
| Min. No of Cheques | 6 |
| Min. Balance (Rs) | 500 |
| Lock-in Period | NA |
| Exit Load | 0.25% for redemption within 30 days |
Basic Details of Tata Infrastructure Fund
| Fund House | Tata Mutual Fund |
| Launch Date | 01-Jan-13 |
| Return Since Launch | 13.93% |
| Benchmark | BSE India Infrastructure TRI |
| Riskometer | Very High |
| Type | Open-ended |
| Assets (Rs.) | 2,014 Cr |
| (As on 28-Feb-2026) | |
| Expense | 1.17% |
| (As on 28-Feb-2026) | |
| Risk Grade | Above Average |
| Return Grade | Below Average |
| Turnover | 5.69% |
Returns-Tata Infrastructure Fund
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Tata Infrastructure Dir | -7.07 | -2.14 | -8.82 | -6.98 | -8.20 | -0.99 | 17.17 | 17.83 | 16.86 | 15.35 |
| BSE India Infrastructure TRI | -4.15 | 1.95 | -7.31 | -3.43 | -5.17 | -0.71 | 27.49 | 23.76 | 18.16 | 16.59 |
| Equity: Thematic-Infrastructure | -7.32 | -1.98 | -8.30 | -7.02 | -6.14 | 1.83 | 22.00 | 20.92 | 18.32 | 16.70 |
| Rank within category | 13 | 18 | 15 | 13 | 17 | 14 | 18 | 17 | 13 | 15 |
| Number of funds in category | 23 | 23 | 23 | 23 | 22 | 21 | 19 | 19 | 19 | 19 |
Peer Comparison of Tata Infrastructure Fund
| Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age | Turnover (%) | |
| Tata Infrastructure Dir | 1 star | -0.99 | 17.17 | 17.83 | 1.17 | 2,014 | 13.93 | 0.25 (30) | 13Y 2M | 5.69 |
| ICICI Pru Infrastructure Dir | 5 star | 1.10 | 22.51 | 25.15 | 1.15 | 8,098 | 15.74 | 1.00 (15) | 13Y 2M | 61.00 |
| DSP India T.I.G.E.R. Dir | 4 star | 7.66 | 25.74 | 23.84 | 0.74 | 5,460 | 15.87 | 1.00 (364) | 13Y 2M | 23.00 |
| Franklin Build India Dir | 5 star | 5.80 | 26.34 | 23.59 | 0.95 | 3,174 | 20.27 | 1.00 (365) | 13Y 2M | 20.39 |
| HDFC Infrastructure Dir | 4 star | -0.63 | 24.89 | 23.15 | 1.15 | 2,417 | 11.57 | 1.00 (30) | 13Y 2M | 7.96 |
Portfolio-Tata Infrastructure Fund
| No. of Stocks | 60 |
| Top 10 Stocks | 33.73% |
| Top 5 Stocks | 22.19% |
| Top 3 Sectors | 78.27% |
| Portfolio P/B Ratio | 3.30 |
| Portfolio P/E Ratio | 28.81 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 51,677 | 1,35,657 |
| Giant (%) | — | — |
| Large (%) | 38.92 | 56.90 |
| Mid (%) | 16.92 | 16.83 |
| Small (%) | 44.16 | 29.05 |
| Tiny (%) | — | — |
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
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