Edelweiss launches MSCI India Domestic & World Healthcare Index Fund

By Morningstar |  06-10-20 | 

Edelweiss AMC has tied up with MSCI Inc. to launch Edelweiss MSCI India Domestic & World Healthcare 45 Index Fund.

This launch marks MSCI’s foray into the Indian market.

This thematic passive index fund will provide Indian investors access to invest in top healthcare companies from India and around the world.

The fund will invest 70% of its net assets in Indian healthcare sector, comprising top 25 stocks based on full market cap. The remaining 30% weightage will be on 20 stocks listed in the US, which comprise the top 5 stocks based on full market cap from 4 sub-industries each - pharmaceuticals, healthcare equipment, biotechnology and life sciences tools and services.

A few of the top holdings of the underlying fund include Apollo Hospitals, CIPLA, Dr. Reddy’s Laboratories, Jubilant Life science, Biocon Ltd., and PFIZER.

The fund will be benchmarked against the MSCI India Domestic & World Healthcare 45 Index and managed by Hardik Varma for domestic investments and Mayur Dharmshi for overseas investments.

The initial investment in the fund will be Rs 5,000 per application with multiples of Re 1 subsequently with no exit load.The NFO will be open from October 6, 2020 to October 20, 2020.

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nagarajan balasubramanian
Oct 25 2020 06:13 PM
 What is MSCI ? How to invest in INDEX FUND
Oct 10 2020 07:27 PM
 is it open ended or close ended
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