Mumbai: Mirae Asset Mutual Fund has registered offer document with SEBI to launch an equity-oriented fund that will infuse in equities of leading companies having their primary activity in Brazil, Russia or China. The proposed fund will infuse 65-100 per cent in equities of companies operating in Brazil, Russia or China and listed on any recognized stock exchange, says the offer document. The fund will have the option of infusing 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 increased the overall overseas investment limit for the mutual funds from $5 billion to $7 billion.
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