News From Press MFs step up launches of schemes seeking to invest in foreign markets

MFs step up launches of schemes seeking to invest in foreign markets

Most funds in FoF space chasing unique themes

Business Standard May 7, 2021

The domestic mutual fund (MF) industry has launched a number of unique theme-based schemes seeking to invest in foreign markets. All of these schemes are so-called fund of funds (FoF). A FoF invests in other MF schemes instead of directly investing in stocks or debt instruments. Some of these include Mirae Asset NYSE FANG+ETF, which is a basket of growth stocks of next generation technology and tech-enabled companies.

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