The fund house has sought SEBI approval to launch three international fund of funds; plans to bring more of its global funds to India
Mumbai: DSP BlackRock Mutual Fund aims to scale up its existing kitty of international funds. So while it has filed offer documents for three funds, it is planning to launch an entire suite of its global funds, said a person familiar with the development.
The fund house has sought approval from SEBI to launch its DSP BlackRock New Energy Fund, DSP BlackRock Latin American Fund and DSP BlackRock World Agriculture Fund.
The fund house may also look at launching a China Fund.
Currently DSP BlackRock has three international fund-of-funds - World Gold Fund, World Energy Fund and World Mining Fund.
Currently, there is only one fund similar to DSP’s Latin American Fund called ING Latin America Equity which has delivered 34 per cent returns in the last two years. HSBC has just launched HSBC Brazil Fund.
International funds have come in the limelight recently due to their improved performance. These funds are meant for investors who are looking to diversify their investments beyond India.
International fund of funds have posted 21 per cent average category returns during a one year period. Among the funds that have delivered a stellar performance are AIG World Gold Fund, DSP World Gold Fund, DSP World Mining Fund, Kotak Global Emerging Mkt and ING Global Real Estate.
The rush to launch overseas funds has been catching up among foreign fund houses which have a global parent to back on. The BlackRock group manages US$3.65 trillion worldwide.
In March 2011, Franklin Templeton filed offer documents with the regulator to launch its FT India Feeder - Templeton Asian Growth Fund and FT India Feeder - Franklin US Opportunities Fund. Currently there are 17 international funds managing a corpus of Rs 2,589 crore.
International Funds
|
Scheme Name |
Inception Date |
1 Year |
2 Year |
Corpus (Cr.) |
|
AIG World Gold(G) |
06-Jun-2008 |
33 |
39 |
209 |
|
DSPBR World Energy-Reg(G) |
14-Aug-2009 |
22 |
NA |
319 |
|
DSPBR World Gold-Reg(G) |
14-Sep-2007 |
31 |
29 |
1105 |
|
DSPBR World Mining-Reg(G) |
29-Dec-2009 |
27 |
NA |
181 |
|
DWS Global Agribusiness Offshore(G) |
13-May-2010 |
NA |
NA |
43 |
|
DWS Global Thematic Offshore(G) |
11-Sep-2007 |
11 |
18 |
32 |
|
Fidelity Global Real Assets Fund (G) |
11-Feb-2010 |
24 |
NA |
94 |
|
HSBC Emerging Mkts(G) |
17-Mar-2008 |
16 |
25 |
60 |
|
ING Global Real Estate-Reg(G) |
31-Dec-2007 |
15 |
25 |
54 |
|
ING Latin America Equity(G) |
07-Aug-2008 |
15 |
34 |
33 |
|
ING Optimix Global Commodities(G) |
17-Sep-2008 |
24 |
29 |
8 |
|
JPMorgan Emerg Eur Mid East & Afr Eq Off-shr Fund(G) |
10-Nov-2010 |
NA |
NA |
5 |
|
JPMorgan JF Gr China Eq Off-Shore(G) |
26-Aug-2009 |
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