HDFC Asset Management Company Limited has launched its first international offering – HDFC Developed World Indexes Fund of Funds (“the Fund”), the first of its kind, providing exposure to 5 regions across 23 developed markets countries, 1500+ constituents and 14 currencies with coverage of 56% of global GDP & ~ 50% of world market cap in one single fund.
The Fund is being launched in association with Credit Suisse Asset Management, one of the world’s leading global asset manager with USD 510bnin assets under management. The Fund will invest in Credit Suisse Index Funds and/or ETFs which will in aggregate track the performance of MSCI World Index. Commenting on the Fund, Mr. Navneet Munot – MD & CEO HDFC AMC said, “We are glad to announce the launch of HDFC Developed World Indexes Fund of Funds, the first of its kind. This Fund offers investors a gateway to the developed world. Since the Indian market has a low correlation with developed markets, this Fund could provide a healthy portfolio diversification.”
