S&P to advise Birla Sun Life MF in overseas investment
Birla Sun Life Mutual Fund has roped in the services of Standard & Poor's for its new 'International Equity Fund' that would give investors an option of exposure to a global stocks portfolio.
By PTI |
MUMBAI: Birla Sun Life (BSL) Mutual Fund has roped in the services of Standard & Poor's (S&P) for its new 'International Equity Fund' that would give investors an option to have an exposure to a portfolio of global stocks.
"The new fund offer aims at diversification and participation in different economies," BSL Mutual Funds Chief Executive Officer Mukul Gupta said, adding it was time to leverage international opportunities.
Currently, individual mutual fund houses can invest up to US $200 million in overseas market from a total kitty of US
$4 billionas permitted by the Reserve Bank.
BSL International Equity Fund would invest 90 to 100 per cent of the fund in diversified portfolio of international stocks from across the world under Plan A. As per Plan B the company would be a mix of domestic stocks (65-75 per cent) and international stocks (25-35 per cent), BSL Mutual Funds Vice President (Marketing & Strategy) Raghvendra Nath said here today.
The company has engaged the investment advisory services of S&P Investment Advisory Services LLC (SPIAS) to design a model portfolio of international stocks.
Massimo Santicchia, Director of SPIAS, would provide BSL Mutual Fund a 50-stock portfolio on international stocks with no geographical, sectoral or market cap bias and its advisory would be updated periodically. S&P tracks around 10,000 stocks worldwide and its advisory is based on detailed equity research by 100-member strong equity research analyst team.
"The new fund offer aims at diversification and participation in different economies," BSL Mutual Funds Chief Executive Officer Mukul Gupta said, adding it was time to leverage international opportunities.
Currently, individual mutual fund houses can invest up to US $200 million in overseas market from a total kitty of US
$4 billionas permitted by the Reserve Bank.
BSL International Equity Fund would invest 90 to 100 per cent of the fund in diversified portfolio of international stocks from across the world under Plan A. As per Plan B the company would be a mix of domestic stocks (65-75 per cent) and international stocks (25-35 per cent), BSL Mutual Funds Vice President (Marketing & Strategy) Raghvendra Nath said here today.
The company has engaged the investment advisory services of S&P Investment Advisory Services LLC (SPIAS) to design a model portfolio of international stocks.
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"S&P is a neutral player and we are leveraging the research of S&P to bring global platform for local investors," BSL Mutual Fund's Chief Investment Officer A Balasubramanian said.Massimo Santicchia, Director of SPIAS, would provide BSL Mutual Fund a 50-stock portfolio on international stocks with no geographical, sectoral or market cap bias and its advisory would be updated periodically. S&P tracks around 10,000 stocks worldwide and its advisory is based on detailed equity research by 100-member strong equity research analyst team.
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