Edelweiss MF has launched its first thematic index fund in collaboration with Morgan Stanley Capital Investment (MSCI).
The fund will invest in 45 top healthcare companies from India and around the world. The scheme will have 70% exposure to Indian healthcare stocks. The remaining 30% weightage will be to 20 stocks listed in the US spread across 4 sub-industries each - pharmaceuticals, healthcare equipment, biotechnology and life sciences tools and services.
The fund will be benchmarked against the MSCI India Domestic & World Healthcare 45 Index and managed by Hardik Varma and Mayur Dharmshi.
Radhika Gupta, MD & CEO, Edelweiss MF said, "We believe that this fund will provide investors with an easy, low cost and undiluted access to promising healthcare companies in India and around the world. Given the rise in lifestyle diseases and the uptick in spending to treat them, the healthcare sector is primed to grow steadily over the next decade."
