MUMBAI: The popular
SIP
method for putting money in stocks through the
mutual fund
route is set to attract
Japanese investors
to Indian equities. In a first-of-its-kind structure using GIFT City, Nippon India MF is bringing in Japanese retail investors’ money into the Indian stock market using the
Nifty BeES index fund
. Nissay MF, one of the leading fund houses in Japan and a Nippon group company, is floating a ‘fund of funds’ that will invest money from Japanese investors into Nippon India MF’s Nifty Bees fund.
According to Sandeep Sikka, ED & CEO, Nippon India MF the fund structure would be equivalent to an SIP for Japanese investors investing in India. In the domestic market, monthly gross inflows into the MF industry through the SIP route has been in excess of Rs 25,000 crore for the last three months, up over 50% from a year-ago period. Nissay India Equity Fund will be launched on February 19.
