MFs look beyond India as asset managers launch schemes with global exposure

The thematic passive index fund is designed with the objective of providing Indian investors access to both Indian and global healthcare companies

Mutual funds (MFs) are latching on to the global diversification theme, and at least three fund houses have launched schemes that invest in global equities in the past few weeks. 

Earlier this month, Edelweiss Asset Management announced a partnership with MSCI to launch Edelweiss MSCI India Domestic & World Healthcare 45 Index Fund. The thematic passive index fund provides Indian investors access to both domestic and global healthcare companies. The new fund offer (NFO) closes on October 20.

Seventy per cent of the fund’s weighting is on Indian healthcare, comprising top 25 stocks based on full market cap. The remaining 30 per