Some international mutual funds that invest in the developed markets, including the US market, have delivered returns better than Indian equities over the past two to three years. As a result, many people are now looking to invest in them. Most of these international funds are fund of funds (FoFs), which invest in the units of foreign funds, which in turn invest in the stocks of foreign companies. FoFs invest in other schemes and not in stocks directly. Investing in international mutual funds can ensure geographical diversification in a portfolio.
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