Leading mutual fund house HDFC Mutual Fund has launched a first of its kind international fund. It has been renamed as HDFC Developed World Indexes Fund of Funds. The fund will open on 17 September and close on 1 October. It can be invested with a minimum of Rs 5000.
HDFC Mutual Fund said that the company manages assets worth Rs 4.37 lakh crore. That is, its Asset Under Management (AUM) is Rs 4.37 lakh crore. The new fund will invest in 23 developed markets across 5 sectors. There will be an opportunity to invest in more than 1500 components and 14 currencies. Along with this, 56% of the GDP and 54% of the market cap of the whole world can also be invested through this one fund.
This fund is suitable for investors who want to make profits through diversified investments in developed markets. This fund has been launched in association with the world's leading asset management company Credit Suisse. Credit Suisse manages assets worth $510 billion. This HDFC fund will invest in Credit Suisse Index Fund or Exchange Traded Fund (ETF).
The fund will track the MSCI World Index. This index is a popular global index that provides opportunities in large and mid-cap. HDFC Fund gives investors an opportunity to invest their money in the domestic market as well as in the best-developed markets of the world. This fund will give its investors an opportunity to invest in all economies and markets. Investors can also take advantage of this in the fall of the rupee. Because 14 currencies will also be included in this investment.
The MSCI Index invests in 40 of the world's top 50 innovative companies. All these companies are fast-growing. This includes sectors such as IT, financial and health care. MSCI index is less volatile than Nifty 50. The company's MD and CEO Navneet Munot said that this is the first fund of its kind, which has been launched. The fund will provide investors with a gateway to invest in developed markets. This single fund has the potential to provide diversification for investing in the currencies, sectors of select countries.
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