``The fund, since opening for subscription on April 17, 2000, has managed to raise Rs 10-15 crore, but we are expecting a sizeable corpus of about Rs 100 crore,'' Khattau said.

Asked about the low volume of investment in the fund till date, he said that in such funds investments tend to go up in the last week of the closing period for subscription.

Entry level amount for the fund, which closes on May 25, 2000, has been kept at Rs five lakh and in multiples of Rs one lakh thereafter. Resurgent India Equity Fund would endeavour to generate long term capital appreciation by investing in opportunities emanating from the turnaround, restructuring, privatisation and acquisition led transition expected in Indian economy.

Resurgent India Equity Fund would invest 85-95 per cent of its net assets in equity and equity related securities of Indian companies, he said adding, it would continue to be significant part of the portfolio given the growth rate and future potential.

Resurgent India Equity Fund offers two investment options - dividend plan and growth plan, at an initial offer price of Rs 10 per unit, he said adding, the scheme would carry an entry load of four per cent of the initial subscriptions.

The fund is expected to receive good response as retail investors may turn to mutual funds as stock markets have been witnessing high volatility in recent times. Moreover, they lack the expertise to pick up good stocks in this market.