ICICI Prudential Mutual Fund is starting a fund that will invest in Nordea Global Stable Equity Fund, a leading investment manager in the Nordic region. The idea is to give Indian investors exposure to value stocks globally. According to Morningstar, a company that tracks mutual funds, Nordea, which manages $170 billion, has returned 20.2 percent for 2013 as against a category average of 7.5 percent.
“We are looking at providing long-term stable returns by investing in stable equity stocks across the world. It will help Indian investors diversify their portfolio across the globe,” says Allan Polack, CEO, Nordea. Over the last year, Indians who invested in global markets through feeder funds made returns of around 40-50 percent, while Indian equities barely delivered 2.5 percent.