HDFC Mutual Fund will launch its first international fund – HDFC Developed World Indexes Fund of Funds.
The underlying funds – index funds and ETFs offer by Credit Suisse Asset Management invest in 5 regions across 23 developed markets countries, 1500+ constituents and 14 currencies with coverage of 56% of global GDP and 50% of world market cap.
The underlying fund will track the performance of MSCI World Index.
In a press release, Navneet Munot – MD & CEO HDFC MF said, “The fund has the potential to offer best possible diversification in terms of exposure across countries, currencies, sector, style and size at a fine cost coupled with a highly efficient structure from the perspective of global taxation and execution. Since the Indian market has a low correlation with developed markets, this fund could provide a healthy portfolio diversification.”
