Your clients can now invest in Amazon, Alibaba and Netflix through a mutual fund scheme.
DHFL Pramerica Mutual Fund has launched DHFL Pramerica Global Equity Opportunities Fund (DPGEOF), an open-ended fund-of-fund scheme investing in PGIM Jennison Global Equity Opportunities Fund.
The underlying fund is a 7.5 year old global fund, which offers Indian investors an opportunity to invest in growth-oriented companies around the world, with no particular investment restriction on countries or sectors.
In a press release, Ajit Menon, CEO & CBO, DHFL Pramerica MF said, “Indian markets, have a low correlation with overseas markets and having global exposure to equities offers healthy diversification for Indian investors. With this fund, we are offering a truly global fund which would provide an excellent asset allocation opportunity. Most international funds currently available in India are either country specific or thematic in nature. This fund would seek to build a flexible global portfolio, with opportunistic approach to unconstrained global growth investing; a perfect complement to an investors’ domestic portfolio”
Mark Baribeau, CFA & co-Portfolio Manager, PGIM Jennison Global Opportunities Fund, who has 33 years’ experience in investment management said, “Our objective is to identify and invest in companies in the early stages of acceleration in their growth and include an innovation in technology, product, or service which disrupts the existing competitive landscape of an industry; a new product cycle or market expansion. The strategy seeks to outperform the MSCI All Country World Index’’
Alok Agarwal, Fund Manager, DHFL Pramerica Global Equity Opportunities Fund said, “Different markets do well at different points of time. Exposure to various geographies ensures that an investor’s portfolio is not dependent on the fortunes of a single market. The underlying fund offers excellent geographic diversification across the world. In addition investors get the benefit of diversification with exposure to companies listed on stock markets outside India.”
PGIM Jennison Global Equity Opportunities Fund (underlying fund) invests predominantly in global companies like Amazon.com, Alibaba, Netflix, Tencent Holdings, Boeing, Mastercard, Louis Vuitton, Nike, Facebook, Ferrari to name a few. The strategy is to hold 35-45 high conviction stocks, diversified across industries and sectors. The fund returns since inception has outperformed its benchmark index - MSCI All Country World Index. The fund invests in a concentrated portfolio of companies from around the world believed to be new market leaders with sustainable competitive advantages and strong financial characteristics. The strategy seeks to capture the inflection point in a company’s growth rate driven by disruptive technologies or services, new product cycles and expanding addressable markets. The AAUM of PGIM Jennison Global Equity Opportunities Fund stands at approximately USD159.91 million as of November 8, 2018.
