Just weeks after the launch of the NYSE FANG+ EFT Fund of Funds, Mirae Asset Global Investments (India) is actively working on launching more international funds, the fund house’s CEO Swarup Mohanty told Money9 in an exclusive interview. He also revealed his team is looking to introduce an India fund that will be manufacturing-focused. Mohanty did not divulge the manufacturing companies in his scope. “We are filing 2-3 more global funds and are in the process of making an India fund based on the manufacturing potential of the country,” he said.
While he did not indicate a date for the launch of either new scheme, Mohanty did mention that these would be offered when the funds’ underlying rules have been tested across timeframes and after the regulator’s due approvals.
Without getting into granular details, Mohanty also said Mirae Asset India is working on getting some of its global ETFs into India .
As Indian stock markets soar to new highs more frequently than before, Mohanty says that retail investors should not try to time the markets. “If you are doing SIPs, then on every SIP installment date your investment act as a lumpsum in any case,” he said.
Mohanty says passive investors, or those who buy index funds or ETFs that do not entail active fund management, may feel the index is too expensive at the moment. But with India being a frontrunner in the emerging markets pack, the theories of an inevitable crash have no grounds, according to Mohanty.
“Invest when you have the money. If you doubt the index, take the active investment route,” he said. “But sell India at your own risk,” Mohanty added, reaffirming his long-term bullish view on the Indian stock markets.
Watch this exclusive interview on YouTube at 8 PM tonight and subscribe to the Money9 channel for notifications.
Know more about investing in the NYSE FANG+ Index from India on Money9’s YouTube channel.
Download Money9 App for the latest updates on Personal Finance.