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AfricaMoney | August 23, 2017

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Mauritius investors to benefit from India investments with MCB India Nifty Fund

Mauritius investors to benefit from India investments with MCB India Nifty Fund

This index fund offers investors the opportunity to invest in the 50 largest companies listed on the National Stock Exchange (NSE) of India through its main index, the benchmark CNX Nifty Index, with a minimum of USD 1,000 (around Rs 31,000). (Image: MCB)

Mauritius is strongly leveraging the investment opportunities present in India with the island economy’s largest financial institution, MCB, having launched the MCB India Nifty Fund yesterday.

The fund by MCB Capital Markets offers individuals and companies the opportunity to invest in the 50 largest companies listed on the National Stock Exchange (NSE) of India through its main index, the benchmark CNX Nifty Index.

It is available at all branches of MCB, and, till September 19, 2014, a promotional entry fee of 0.3% is also on offer.

MCB India Nifty Fund offers investors the opportunity to place funds in major Indian companies with a minimum of USD 1,000 (around Rs 31,000).

This index fund is based on the CNX Nifty Index of the 50 largest Indian companies by market capitalization.

Kevin Rangasami, Managing Director, MCB Stockbrokers, stated, “India is growing and represents a good investment opportunity in the coming years, but it is very difficult to invest directly. Through the MCB Nifty India Fund, an individual or business can now access this market and see his investment safely allocated to the 50 largest listed companies in India.”

The fund is primarily intended for investors who are convinced of the long-term prospects of a diversified portfolio of shares in listed Indian companies, and are willing to sacrifice regular dividends in favor of capital gains over a longer horizon.

Investors now see India as one of the most attractive destinations globally. The country is the tenth largest economy in the world in terms of GDP and its growth is both strong and sustained.

Considered the largest democracy in the world, India has 1.3 billion people with an average age of just 26 years, representing a huge youth dividend as other countries, particularly in Europe, as well as closer home to India, in Japan, face a large proportion of ageing population.

Moreover, per capita consumption is growing rapidly, which indicates that there huge potential that is untapped so far.

Analysts predict that India has begun a promising decade and expect the country to achieve improved financial stability, lower inflation and better growth prospects. Indian financial markets already reflect this optimism enthusiastically.

Coming back to the fund, to subscribe in it, an investor must show a minimum commitment of USD 1,000 (around Rs 31,000) but it is possible to participate in the MCB India Nifty Fund through a monthly subscription of USD 100 (about Rs 3,100) or more.

Besides, the MCB India Nifty Fund offers two classes of shares: N and R.

Class R is primarily intended for investors willing to invest less than USD 50,000 while the N category mainly targets investors (individuals and companies) who wish to place more than USD 50,000 in the fund.

Finally, it may be noted that Non-Resident Indians (NRI) and those holding a Person of Indian Origin Card (PIO) are not eligible for the MCB India Nifty Fund.

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