Global funds that put your money in other countries don’t necessarily offer much diversification

Moneylife Digital Team

Axis Mutual Fund plans to launch another foreign fund of fund scheme— Axis Global Equity Alpha Fund. This scheme, like that of Axis Asian Opportunities Fund (Read: Axis Asian Opportunities Fund: Another global fund) would invest in a scheme of Schroders Plc. Schroders is a global investment company that manages around 580 funds globally with a total corpus of $388 billion. The scheme would invest 95%-100% of its assets in units of Schroder International Selection Fund Global Equity Alpha. The remaining part of the assets would be invested in debt or money market instruments. The target scheme was launched in July 2005 is one of the funds under the Schroder International Selection Fund. Under this scheme, at least two-thirds of the fund (excluding cash) will be invested in a concentrated range of shares of companies worldwide.

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