The IL&FS - Milestone Fund-I is a four-year close-end fund with an option to extend the term by two more years, if required.
The fund is looking at an initial corpus of Rs 1000 crore, including a greenshoe option of Rs 500 crore. It is looking at an annual yield of 11% and an annual return of 18-20% with the property price appreciation, reports suggest.
The minimum investment in this fund is Rs 10 lakh for individuals and Rs 1 crore for corporates. It opened for subscription on Monday, 11 September 2007 and will close on 30 October 2007.
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