SBI Mutual Fund has launched SBI International Access - US Equity FoF, an open-ended fund of fund scheme that would invest in mutual fund scheme/ETFs that invest in US markets. The underlying scheme of investment would be Amundi Funds – US Pioneer Fund with an investment process that fully integrates ESG ethos.
Amundi Funds - US Pioneer Fund has a long track record of over 93 years of employing a responsible investing framework. The underlying scheme currently invests in companies that benefit from secular growth themes – 5G, artificial intelligence, automation, cloud computing, and internet of things. The fund has an AUM of $2.5 billion as of January 31, 2021.
In a press release, Vinay M. Tonse, MD & CEO, SBI said, “The investment process for the fund, integrates ESG in every step of the process. This scheme will provide an international diversification to individual portfolio and allow investors the opportunity to invest in themes not available in the Indian market.’’
DP Singh, Chief Business Officer, SBI MF said, “The NFO is designed as a solution to help investors gain by investing outside India, the fund also has a dedicated ESG team with proven track record of long-term wealth creation. The fund is suitable for HNIs, seasoned investors apart from the young investors who would like an international exposure to their portfolio.’
