MFs step up launches of schemes seeking to invest in foreign markets

The domestic mutual fund (MF) industry has launched a number of unique theme-based schemes seeking to invest in foreign markets. All of these schemes are so-called fund of funds (FoF). A FoF invests in other MF schemes instead of directly investing in stocks or debt instruments. Some of these include Mirae Asset NYSE FANG+ETF, which is a basket of growth stocks of next generation technology and tech-enabled companies. BNP Paribas Funds Aqua FoF, that invests in global companies that are part of the water value chain. “The underlying fund intends to identify global companies t.....

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