Global Funds: Lacklustre performance
We had described global funds as a marketing ploy you should stay away from. Their performance justifies our view
Over the past year, as many as 14 offer documents have been filed with the Securities and Exchange Board of India (SEBI) to launch global funds. Of these, three have been launched and we expect the others to be launched by the end of this year or beginning of next year.
Global funds are a category of Indian mutual fund schemes that invest in foreign securities and/or foreign funds. At present, we have 36 global funds; as many as 21 of these were launched during 2007 and 2008, the period when foreign funds had become a fad. When they were launched, Moneylife had pointed out that these funds were marketing gimmicks. Our advice was to stay away from these...
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