Domestic Fund Houses Replicate Rivals For Product Success

Mumbai: Domestic fund houses are trying to copy the success of new fund offers of some of their peers. Attracted by the amount of funds collected by the peers, the fund houses are unveiling similar-sounding schemes. UTI Mutual Fund, which already has a highly successful infrastructure fund, has recently unveiled UTI Infrastructure Advantage Fund-Series 1. Similarly, AIG Mutual Fund has filed documents to launch its Gold Fund, following DSP-Merrill Lynch, which has collected over Rs 1,000 crore via its World Gold Fund, making it the first fund house in India that will infuse in stocks of gold mining, processing and marketing companies across the world.

After DSP-Merrill Lynch launched a Small and Micro-Cap Fund last year, DBS Chola unveiled its small-cap fund. Recently, ING unveiled its Global Real Estate Fund, after which Principal PNB Fund House filed for a global real estate fund, which will invest in REITs and REOCs (Real Estate Operating Companies).