Widely read:
Gambling on the Indian consumption story is a recurring theme from time to time. The BNP Paribas India Consumption Fund offer, whose document has been filed with Sebi, is amongst the latest to join the bandwagon of funds investing in companies that profit from local consumption. According to the investment objective filed, this scheme will invest in companies expected to benefit from providing products and services to the growing consumption needs of Indian consumers, which in turn is getting fuelled by high disposable incomes and growing consumption needs of the households.
It is not the first time that such a scheme has been launched. Currently, there are four funds with similar objectives that exist with varied performance. Kotak Lifestyle was launched in 2006 to ride the consumption story, only to be merged with Kotak Select Focus in 2011 due to poor performance which lead to reduced investor interest and fall in assets. Investing in thematic funds is not meant for every investor because of the investment risks that such funds are exposed to compared with broad diversified equity funds. However, savvy investors can gain from investing in such schemes, provided they are well-versed with the ways of the markets and know how to ride the theme profitably.
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