Mirae Asset Mutual Fund has filed offer document with SEBI for an equity-oriented fund that will invest in equities of leading companies having their primary activity in Brazil, Russia or China.
The proposed fund will invest 65-100 per cent in equities of companies operating in Brazil, Russia or China and listed on any recognised stock exchange, says the offer document. The fund will have the option of investing up to 35 per cent in Indian equities and equity-related securities or money market instruments, debt securities instruments.
The fund will be benchmarked against the MSCI -BRC (Brazil, Russia & China) Index. The RBI in April 2008 raised the overall overseas investment limit for the mutual funds from $5 billion to $7 billion.
The proposed fund will invest 65-100 per cent in equities of companies operating in Brazil, Russia or China and listed on any recognised stock exchange, says the offer document. The fund will have the option of investing up to 35 per cent in Indian equities and equity-related securities or money market instruments, debt securities instruments.
The fund will be benchmarked against the MSCI -BRC (Brazil, Russia & China) Index. The RBI in April 2008 raised the overall overseas investment limit for the mutual funds from $5 billion to $7 billion.
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