Mirae launches new fund to invest in America's top 50 companies

Mutual fund schemes investing in overseas equity have been attracting a lot of investor interest of late. In response, AMCs have been coming up with funds investing overseas. The latest in line is the Mirae Asset S&P 500 Top 50 ETF and its fund-of-fund (FoF) variant. These funds will track the performance of the S&P 500 Top 50 index. About the strategy As the name indicates, the index is composed of America's largest 50 companies. While we do have a fund that offers investment in S&P 500 index as a whole (Motilal Oswal S&P 500 Index Fund), this NFO is the first one focusing on the top 50 constituents. A comparison of the performance of t